- Title: Market trader says big businesses may have clout to go up against Trump
- Date: 30th January 2017
- Summary: FRANKFURT, GERMANY (JANUARY 30, 2017) (REUTERS) FRANKFURT STOCK EXCHANGE TRADING FLOOR SIGN READING: FRANKFURT STOCK EXCHANGE TRADER ON TELEPHONE DAX INDEX BOARD TRADER ON PHONE DAX INDEX BOARD CLOSE OF TRADER ON PHONE TRADERS LOOKING AT SCREENS VARIOUS OF DAX INDEX BOARD TRADERS WORKING PAN OVER DAX INDEX BOARD (SOUNDBITE) (German) TRADER WITH ICF BANK, ATAKAN SAHIN, SAYING: "We have come from a real high. At the moment we are 80 points weaker. The markets really are nervous. As we know, the markets don't only react to economic news but also to politics, especially when they come out of the U.S. And here we have the new decrees of the U.S. President Trump. So the markets are nervous. It is the beginning of something and the markets haven't really been able to work out where it is all going, or could go. And that is where the nervousness comes from." TRADER AT DESK DAX INDEX BOARD (SOUNDBITE) (German) TRADER WITH ICF BANK, ATAKAN SAHIN, SAYING: "The markets are now waiting to see whether U.S. President Trump can revive the U.S. economy in the short- and the long-term. He has already had an early reward. But now... Of course he can govern by decree, but the only people who can really go up against Trump now are the big businesses. And if General Electric, Google and Starbucks really do react on behalf of their employees and to a certain degree go up against their own president, then this would be a revolt that he would notice." VARIOUS OF DAX INDEX BOARD (SOUNDBITE) (German) TRADER WITH ICF BANK, ATAKAN SAHIN, SAYING: "Aviation stocks are weaker as a result of the uncertainties. In principle it is the same as with the markets. As we saw and read this weekend even the airline crews don't know exactly how to respond to this new decree. It is a bad sign and shares are feeling the pressure." DAX INDEX BOARD TRADING FLOOR
- Embargoed: 13th February 2017 11:16
- Keywords: Frankfurt DAX markets Trum visa
- Location: FRANKFURT, GERMANY
- City: FRANKFURT, GERMANY
- Country: Germany
- Topics: Currencies/Foreign Exchange Markets,Economic Events
- Reuters ID: LVA001619VZ4D
- Aspect Ratio: 16:9
- Story Text: German shares fell on Monday (January 30) weighed down by uncertainty after immigration curbs introduced by Donald Trump added an extra layer of concern to the economic impact of the new U.S. president's policies.
"The markets are nervous. It is the beginning of something and the markets haven't really been able to work out where it is all going, or could go. And that is where the nervousness comes from," ICF bank trader, Atakan Sahin told Reuters TV.
Trump suspended travel to the United States from Syria, Iraq, Iran and four other countries on national security grounds. The executive order, signed on Friday, triggered huge protests in U.S. cities and raised concern among some in markets over the potential impact of other policy moves.
The DAX started Monday 0.2 percent lower, with airline stocks also showing the effects of decrees coming out of the U.S.
"Aviation stocks are weaker as a result of the uncertainties. In principle it is the same as with the markets. As we saw and read this weekend even the airline crews don't know exactly how to respond to this new decree. It is a bad sign and shares are feeling the pressure," Sahin said.
Starbucks responded to the visa suspension by announcing it would employ 10,000 refugees in 75 countries over the next five years.
"Of course he (Trump) can govern by decree, but the only people who can now really go up against Trump now are the big businesses. And if General Electric, Google and Starbucks really do react on behalf of their employees and to a certain degree go up against their own president, Then this would be a revolt that he would notice," Sahin said. - Copyright Holder: REUTERS
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