Investors in Asia cut their appetites for risk as geopolitical concerns weigh on markets. British Prime Minister Theresa May’s announcement of a general election in June, which is aimed at shoring up her mandate to take Britain out of the EU, added to worries about North Korea, Syria, and Russia. In China, the Shanghai Composite fell 0.9% to a two-month low. Since Friday it has fallen more than 3%.
President Trump traveled to Kenosha, Wisconsin, headquarters of tool-maker Snap-on Inc. where he signed an executive order to review the skilled worker H-1B visa program and announced the goal to “buy American, hire American.” The order sets up a review process of the progam and asks federal agencies to minimize waivers of Buy American policies. Government data released this week shows that the number of applicants for H-1B visas has fallen. The government admits 85,000 immigrants under the visa program each year. Citizenship and Immigration Services said it received 199,000 applications for the fiscal year that began October 1. That was down from the 236,000 it received the year before.
Serving the West Side first, I am Bill Roller of BR Capital for 1360 KUIK.
