Wall Street drops on jitters over Trump's travel curbs

U.S. stocks opened lower on Monday as investors turned defensive due to uncertainty sparked by President Donald Trump's orders to curb travel and immigration from some countries.

The promise of tax cuts and simpler regulations had lured investors into equity markets since Trump's election in November, but some are worried about the potential risk of his protectionist policies.

"A new week of trading is getting off on a sour note, as key macro news, Fed action, international and domestic backlash over Trump's immigration stand are putting investors on the defense," Peter Cardillo, chief market economist at First Standard Financial, wrote in a note.

"We look for a bumpy to negative ride as the 'Worry Trade' rules the day."