US stocks slide as Trump takes office

Stocks dove as Donald Trump took office on Friday.

The Dow Jones industrial average sank by as much as 70 points after Trump took the oath of office at the US Capitol. Both the S&P 500 and Nasdaq also began to slide as Trump began his speech.

All three indexes are still in the green for the day, with the Dow rebounding slightly off of session lows at 19,788 as of 12:46 p.m. ET.

Additionally, US Treasury bonds ticked off their lows after Trump was sworn in. As of 12:46 p.m. ET, the 10-year yield sat at 2.500%, up 4.1 basis points for the day but still slightly below its high for the day.

Oddly enough, the Mexican peso — which, because of Trump’s hardline stance on trade with Mexico, sank throughout the campaign as the possibility of Trump winning became likelier — is actually the best-performing currency against the US dollar for the day.

NOW WATCH: Here’s how to use one of the many apps to buy and trade bitcoin

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.