KW: The DOW having just breached 20,000 has the jitters and is on the way down. At least some of the market jitters can be traced to the weekend of chaos at U.S. airports where legal residents of the U.S. found themselves in a twilight zone, unable to get back into the country as a result of President Donald Trump’s hastily penned Executive Order. As media word spread of university faculty, Ph.D. candidates, medical students and business executives being denied reentry into the U.S. after visits abroad, spontaneous protests erupted at major international airports across the U.S. including San Francisco, Boston, Chicago, New York, Seattle, Los Angeles, and Dulles outside of Washington, D.C. The chaos resulted from an Executive Order signed by Trump on Friday that bans the majority of refugees from coming to the U.S. for 120 days and suspends visas for persons from seven majority-Muslim countries: Iraq, Iran, Syria, Yemen, Sudan, Libya and Somalia. There was an immediate outcry from CEOs of tech companies in Silicon Valley who have essential personnel working in the U.S. with visas. According to the National Foundation for American Policy, 51 percent of tech startup companies with a value of more than $1 billion had an immigrant as a co-founder. Google co-founder, Sergey Brin, joined protesters at San Francisco International Airport. Brin said he was protesting in his personal capacity as a refugee, not in his official Google capacity. Apple CEO Tim Cook and Microsoft CEO Satya Nadella expressed strong objections to the Trump order.
“…you would have to be blind not to see the hate, anger and frustration that are all growing like cancer in the hearts of our young people…This is a time for the peacemakers. ”