Sierra Club to Trump: No 'Racist Wall of Shame'


USA stocks were lower at the open on Wednesday after President Donald Trump warned of a government shutdown to build a Mexico border wall and threatened to terminate a trade agreement with Mexico and Canada.

Trump warned late on Tuesday he might terminate the NAFTA trade treaty with Mexico and Canada after three-way talks failed to bridge deep differences.

Sim Moh Siong, FX strategist for Bank of Singapore, said it's unclear whether Trump's comments are a negotiation tactic or constitute a real threat that could lead to a government shutdown.

"Build that wall. Now the obstructionist democrats would like us not to do it but believe me, if we have to close down our government, we're building that wall. We see a shutdown as more likely than the other analysts we have read", he added. Trump again will likely say that billions of dollars are needed for fences, walls, sensors, agents and equipment while failing to address root causes of human migration and smuggling.

Trump's visit to Yuma comes as the administration readies a new push for funding to start construction of a border wall that he made a core promise in his campaign.

In mid-morning trading, the dollar fell 0.4 percent to 109.17 yen, with the dollar index slipping 0.3 percent to 93.272.

On Thursday, the euro held steady at $1.1803EUR=, after having risen about 0.4 percent the previous day.

Amid President Trump's comments, investors also awaited speeches from Federal Reserve Chair Janet Yellen and European Central Bank President Mario Draghi at the Jackson Hole summit on Friday, though neither was expected to announce new policy messages.