Dubai:

The uncertainty on the policy front under the new Trump administration is making investors nervous.

US stocks fell on Tuesday, extending losses for the fourth session on concerns over President Donald recent signing of executive orders on immigration and trade. European and Asian stocks also fell earlier.

The Dow Jones Industrial Average was 0.76 per cent lower at 19,820.14, after the gauge hit 20,000 last week. The S&P 500 index was down 0.48 per cent 2,269.94.

“There are a number of questions on Donald Trump when it comes to handling issues of trade deals, immigration, protectionism and developing a sound foreign relationship,” which has been spooking markets, said Naeem Aslam, chief market analyst with Think Markets.

The dollar index fell 0.88 per cent at 99.47, falling to its lowest level since 2006.

“There is an ever increasing risk that President Trump will pursue at weak Dollar policy outright — it makes sense for his “program” as more export is needed to grow,” said Steen Jakobsen, Chief Investment Officer at Saxo Bank. The dollar has dropped almost 3 per cent since the start of January after gaining as much as 7.1 per cent post-election.

Elsewhere, European stocks extended losses for a third day, registering its worst losing streak since November.

The Stoxx Europe 600 Index was 0.37 per cent to be at 361.20. Earlier in the day, Japan’s Nikkei closed more than a per cent lower.

India budget:

Indian stocks fell as caution began to set in ahead of the annual budget.

India’s benchmark Sensex index fell 0.70 per cent to close at 27,655.96. The National Stock Exchange’s NIFTY 50 index closed 0.83 per cent lower at 8,561.30.

The new visa bill in the United states weighed on Indian technology stocks. The BSE IT index fell by 4.83 per cent to touch an intra-day low of 9401.85.

Tata Consultancy Services fell 4.58 per cent to end at Rs2,229.90, while Infosys fell 2.01 per cent to settle at Rs929.30. Wipro, another technology major fell 1.62 per cent to be at Rs457.10.

HCL Technologies fell 3.67 per cent to end at Rs808.85. Tech Mahindra closed 4.23 per cent lower at Rs451.75.