this is "nightly business report" with tyler mathisen and sue herera. >> stock slump. the worst day of the year for the market as focus shifts to tighter immigration policies and away from pro growth report. what's at stake? the one that navy most on the line when it comes to president trump's executive orders. and a big impact on monitoring your heart. those stocks and more for monday, january 30th. good evening, everyone. welcome. i'm sue herera. tyler mathisen is off tonight of clouds formed by washington, hung over wall street. stocks stumbled after trump tightened immigration from seven

middle eastern countries with muslim majority populations. the move caused confusion, legal challenges, criticism and according to some analysts, it increases uncertainty in the markets. today the dow jones industrial average fell to 19,951. the nasdaq was off 47. and the s&p 500 dropped 13. the lousy start to the week follows dow's historic topping of 20,000 a few days ago. the rally since the election was sparked by the expectations that pro growth policies like tax cuts would be enacted fairly quickly. but as bob reports, there is growing concern among investors that washington's focus is shifting. >> from trump bust to trump slump. the market may have blown past its records but stocks took big hit today with key headlines and policy plans coming out of the new trump administration. the problem is investors are seeing president trump are straying from the speenls

initially lifted stocks to new highs. what moves the market forward? the reflation fee. tax cuts and infrastructure spending. what stalls the market out is any hacking of news on these stimulus measures. and when the administration focuses on more complicated issue like trade tensions and even obamacare. when there's talk about changing the h 1 b visa program, near and dear to the tech community as we're hearing this week, you can see the immediate impact. this may directly threaten their ability to bring in talent no matter whenner it is. also a worry that the tax cut issue is more complicated than it seems. the market wants a clean the across the board reduction, period, but seems muddles by border adjustability taxes. the policy fears, traders are more focused on the fed meeting wednesday and the jobs report friday. it is a very delicate task at

hand. they have to strike the perfect tone of bullishness without sending overly hawk us signals. after all, the fed chair still needs more clarity on mr. trump's policies as well. the bottom line, it will be a very messy first 100 days. earnings are slowly improving. with so much policy uncertain tirat this, they're hesitant with the agenda so far. at the new york stock exchange. >> technology stocks fell over xernls the president's immigration order will threaten tech industry's ability toably the talent. that is a big deal for silicon valley which appears unified in its opposition to this executive order. josh lipton has more. >> this is a truly amazing group of people. >> it was just last month that then president-elect trump met with tech leaders at trump tower in new york city.

often at odds on the campaign trail, the two sides tried find common ground. so much for that truce. now, tech has come out swinging against trump's executive order on immigration. ceos and executives for most of the major tech companies voiced their kernels over the weekend including those from facebook, alphabet, apple and netflix. there is no issue more critical or personal in silicon valley than immigration. by one estimate, immigrants started more than half the u.s. start-ups at $1 billion or more. and immigrants like this one run some of the most iconic coils like google. in response to that executive order, he said it is pain tofl see personal costs of the executive order on our colleagues. we've always made our views on immigration issues known publicly and will continue to do so. but it is not just talk. tech executives are not taking

action. the google co-found here emigrated to the u.s. from the soviet union, joined protesters at the san francisco international airport. start-ups are also saying they will donate $1 million to the aclu over the next four steer defend constitution, them. and uber ceo is being vocal on the issue. creating a $3 million defense fund for drivers who may be impacted by the ban. but it is important that these tech leaders maintain a relationship with the white house, given the range of issues in front of them. from tax reform and encryption to anti-trust issues and trade. it is not yet clear what the impact will be on these tech businesses. the issue is not being litigated. what is clear is that it creates uncertainty for the sector. for "nightly business report," san francisco. >> other company like walmart,

coke is that proctor and gamble have made statements on the order. jpmorgan issued an order while goldman sachs ceo told his company that they do not support the president's policy. what will president donald trump's policies mean for some of his other business friendly proposals? ed mills joins us to discuss all of this. welcome back. nice to sigh. >> great to be here. >> do you get the sense that some of the initiative that's are important to the stock market like tax reform are being pushed to the side? or is it simply that the more emotional issues are being tackled first? >> what i think the markets saw was a kind of three pronged reason why people werement mem mists. some level of fiscal stimulus. two of those three need congress

to pass. over the weekend the administration gets off to a pretty rough start. seeing his own party coming out opposed to it. in the house it is pretty big but in the senate, it is only a two-person majority. you lose two or three nazr and you can't get spending done. you cannot enact the trump agenda which is really behind a lot of the run-off in the market since the election. >> do you anticipate that things might calm down a little bit as the president works his way through some of these initiatives? >> i do, i do. >> go ahead. >> i do. i think what we're seeing here was part of the reason why some of the other leaders in congress have been pretty muted in response to things they had been opposed to during election. they see probably a once in a lifetime opportunity to get some of these things done. paul ryan has spent his adult life trying to do tax reform.

we haven't had a major tax reform fwhal generation. once it settles down, the republican there's try on drive through their agenda. and most of it can be done without the filibuster in the senate. that's what we see first with the affordable care act. that's what we'll see next with tax cuts. and most importantly, most of the regulatory things are all done through executive agencies. that president trump will ultimately gotett put the key person they will and they will run their course. >> as you point out, the currency of washington is the ability to get reelected. and there's not as much time to do some of these complicated things like tax reform as perhaps some of the members of congress would like. >> it is kind of, what i said at the election, everything is in play. not everything is going to get done. when you want to talk about timing, it takes longer. the set-up goes very slowly.

these members of congress look at the next election. it might be an eon away from the next voter but it is right around the corner. they face voters and they don't want to be on the wrong side of these policies. so trump needs steady the course or pretty soon some members of his own party will abandon him and decide they can't go i know what these policies. that's where it really gets threatened at that point. >> which means we'll be talking to you a lot. >> it will be interesting. >> ed mills with capital markets. as an investor in this politically charged environment, where should you be focused? let's go to the chief strategist at montgomery scott. good to see you. first of all, let's talk about what happened specifically today. is it political jitters or is it simply a mix of that and earnings? what did you make of it? >> i took it as more the former than the latter.

i think it was a little of the aftermath of what we saw, across the television over the weekend and it stirred some geopolitical tensions as well. as leaders around the world were weighing in and what it means to them and how to interact with the new trump administration, given the executive orders in, the general flurry of activity in its first week in office. at the moment they will refocus on earnings. the bigger the companies begin to report. that should drive the tensions back to the fundamentals which on balance at least early on, continue to be pretty good. >> is it possible for an investor at this point in the administration to separate out the politics from the fundamentals of the market? or will they be intertwinled for some time? >> i think they'll be int intertwined for some time.

it was aremember the youttribut. . namely deregulation to the extent things get in the way of action on those two fronts, particularly, i think it will serve as a source of distress. when prices are trading at 17 times even a little over, almost up bridled enthusiasm for the policies to become reality get delayed. that will weigh on equity prices. >> i would assume you would agree with those a say this is the time you need to look at your financial plan. look at your investment plan. try on filter out some of the noise if you can. and stick with that. >> definitely. until onering with did a full cabinet in place around donald trump.

we see actual legislation put on paper relative to converting the campaign policies into more than promises. at that point we'll mark it stabilize asked beginning to rally around the expectations that these will fulfill the obligation of being very market friendly and boost corporate earnings and therefore, prices commensurate. >> all right. on that note. >> thank you. president trump signed an order aimed at business. and he said that agencies should eliminate two regulations for every new one. the white house later add that had any new regulation should be offset by eliminating regulations with the same costs to business. it excludes regulations related to the military. he signed the order surrounded by small business owners who have often complained about their regulatory burden. the president also said that lockheed martin will cut $600

million off the cost of the f-35 fighter jet program. the president said that applies to the next 90 planes. the total cost of the program is roughly $400 billion. president trump has repeatedly criticized for costs overruns and delays. still ahead across america. >> i'm scott cohen. one state has a lot on the line. we'll take you there when we come back. volkswagen is once again largest automaker.

toyota is number two. v.w. can attribute the increase in sales to demand from china. the title comes as the automaker tries to distance itself from its global diesel emissions scandal. volkswagen recently agreed to pay about $22 billion in settlements and plead guilty to criminal charges in the u.s. general motors says honored has agreed to pay 85 million to join a joint venture. it will create 100 jobs. the auto industry is the part of the heart and soul of the michigan and no state has more at stake in president trump's executive order. whether on immigration or trade. the wolverine state voted for donald trump narrowly last fall. and as scott reports from detroit, that choice is coming into sharp focus.

>> good afternoon. welcome. >> donald trump won michigan by just 11,000 votes. his first ten days in office are putting that slim support to the test. >> could this have been rolled out better without entrapping people with green cards? those with h 1 b visas -- >> obviously, it could have been done better. it is what it is. >> there are too many people coming to this country that we know nothing about. >> more than just a blow collar state, michigan is a state of immigrants often california took many more syrian refugees last year. so in detroit, the new immigration restrictions hit home. >> i came here seven years ago. i got married and this is my mother, she moved here one year after the wafrl i applied for her. she has a green card and my father has green card. he is outside the u.s. >> protests and vigils sprang up

statewide while michigan's high-tech economy weighed the impact. american was already in the cross hairs of the trump agenda on the issue of trade. no state has more on the line when it comes to the free trade agreement. detroit is the busiest truck crossing between the u.s. and kane but smemexico is also a ke link. michigan depends on nafta in a way no other state does and economists worry about upsetting a delicate balance. >> a bit of chaos at the beginning. they might be confused over where the parts will come from for cars. or cars themselves. >> the president claims he is already bringing jobs back. >> they're coming back by big numbers. bigger number than people have seen. we saw ford. it has announced big plans

coming back into michigan and ohio. >> michigan bet on trump. now we'll see what happens. some shareholders of temper sealy might who's some sleep tonight and that's where we begin our market focus. shares of the mattress company cut ties. after the two koimts failed to reach an agreement. the stocks plunged to 4549. in an effort to object taken u.s. anti-trust agreement, balan walgreens said it would reduce and divest even more stores. they said they will push back the deadline for the deal to july. following the news, the shares

fell. fit bit warned it wouldn't meet its sales guidance due to weaker than expected demand during holiday period. the fitness device maker said it would slash about 6%. it will impact 110 jobs. fit bit dropped about 15%. software and equipment maker said that it would take over data technology company for more th than. it is scheduled to expand. they were off 2 cents to 3 36.1945. and company fibrogen said their experimental anemia drug performed well. it. it plans to use the date when it

files for a knew drug application in china this year. still shares fell more than 6% to 2180. and a warning from sony. the company plans to take a nearly $1 billion charge on its struggling music business. sony said that decision was made after evaluating the future profitability of that unit which has lagged its competitors. and two weeks ago the head of soenly entertainment stepped down from his job after 13 years. apple reports its first quarter earnings tomorrow and investors will be paying close attention to iphone sales which continues to be the biggest driver. now to discuss what he is expecting from apples earning. >> thank you. >> what you're looking for is for tim cook to increase sales.

>> this is the quarter apple will finally return to growth. >> why this quarter? what dynamic has changed? >> number one, the negative comps start to go away. when the iphone 6 came out, it drove units up 37% this fiscal 15. that really hurt their fiscal 16. so now we start on anniversary that. the iphone 7 got off to a strong start. i think you will see 2% sales growth and unit growth. >> what are the expectations for the up coming iphone x? >> i think this will be a september launch of 2017 is what we're anticipating. you'll have a larger screen but the actual form factor won't be bigger. the way they'll do that is

decrease the bezel. it will be more glass, less metal of because it is the tenth anniversary and it is a form factor change, i think that will drive a nice upgrade. so you will see iphone accelerate in fiscal 18 versus 17. but you'll have growth. >> what about the map sales? >> you're going on see a year over year decline for sure. i think you will see better numbers than we're projecting in the quarter. the sim many reason is the mac book pro over the holidays. >> is the target till 185? >> yes. that's based on 17 times our 2017 numbers plu. plus the net cost per share. >> i think it is one of the most underappreciated stocks in the

world right now. >> thank you very much. coming up, change have the way we monitor our hearts. more americans signed contracts to buy homes last month. it rose 1.5% increasing the most in the western and southern parts of the country. it may reflect an urgency to lock in a mortgage rate and they've been rising lately. penaltying israel considered, a sale is completed a few months after a contract is signed.

citigroup said it man's to exit the mortgage servicing business and turn its attention to new loans. it will sell its servicing rights on sallie mae and freddy mac loans. citisays it will help improve shareholde shareholders concerns, subject to approval. irregular heart rhythms are more common than some may think. in perhaps 6 million americans. in serious cases it can lead to stroke or heart failure. the methods of measuring rid pretty antiquated and small companies are trying to make some big changes. >> gabriel's heart is a mystery. >> kit cause sinkable time. i can't see, i can't hear. the room goes black and i can

collapse. >> since 2012, it has caused the lower chamber of his heart to beat too fast. his doctors don't know why. >> i've had a bunch of genetic studies, echo cardiograms, and everything has been negative, which is good and bad. >> sarah is one of millions with cardiac arrhythmia or abnormal heartbeat. he said it is mysterious but well managed. doctors say the way they monitor heart rhythms is changing. >> what i first saw, why dmt i think of this? >> the cardiologist fit in from the small company. >> i was worried the picture we were trying to banld the monitor would not be complete. because it was so small. i found the information we

gathered was just as comprehensive as any other monitor. >> worn continuously for 14 days, it generates. >> it will have more information about a normal heartbeat than anything in the world. >> that massive amount of data, it gets smarter as we put more and more date into the database. >> mike winestein says that should lead to better diagnosis and big business. a market opportunity of more than 10 million tests every year. worth more than a billion dollars. it costs more than older ones.

and it is not transmitting in real-time. if someone has a worry of passing out, you want to know right away. >> with the hardware getting smaller, doctors are hoping for information into the mysteries of the heart beats. >> to learn more about the new ways to monitor. >> thanks for joining us. have a great evening. we'll see you here tomorrow.

>> this is "bbc world news america." funding of this presentation is made possible by the freeman foundation. newman's own foundation, giving all profits from newman's own to charity and pursuing the common good. kovler foundation, pursuing solutions for america's neglected needs. and aruba tourism authority. >> planning a vacation escape that is relaxing, inviting, and exciting is a lot easier than you think. you can find it here in aruba. families, couples, and friends can all find their escape on the island with warm, sunny days, cooling trade winds, and the