European Shares Retreat After Trump's Travel Ban

European markets started the week on a sour note as concerns about the impact of Donald Trump’s travel ban rattled markets and stoked demand for safe-haven assets. Banks and commodity-related stocks led declines amid uncertainty over U.S. policy on trade and the economy under Trump.

Trump defended his actions to ban entry of refugees and people from seven Muslim-majority countries, saying that it was about national security and not religion.

Meanwhile, investors ignored survey data from the European Commission showing that Eurozone economic confidence unexpectedly strengthened in January, resulting from improvements in industry, services and consumer confidence. The economic confidence index rose to 108.2 from 107.8 in December. The score was expected to remain unchanged at 107.8.

The Federal Reserve is likely to be back in the spotlight this week, with the central bank due to…

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