STOCKS SINK: Here's what you need to know

Stocks slid in trading on Monday amidst a swirl of political news and a variety ofUS economic data releases.All three major stock indexes finishedin the red, marking one of theworst trading days of 2017.We've got all the major headlines, but first, the scoreboard:Dow: 19,971.13, -122.65 (-0.61%)S&P 500:2,280.90, -13.79 (-0.60%)Nasdaq:5,613.17, -47.07 (-0.83%)Business leaders and CEOs reacted to President Donald Trump's ban on immigrationfrom seven predominately Muslim countries. CEOs of the major US banks spoke out against Trump's executive order, as did tech leadersand others.Starbucks CEO Howard Schultz promised to hire 10,000 refugees after the Trump order. The move drew criticism from some online. Schultz was a vocal supporter of Hillary Clinton during the election.Snapthe parent company of Snapchatwill list its stock on the New York Stock Exchange. The company's IPO filing is expected to be released this week. The company is expected to value itself between $20 billion and $25 billion.Tempur Sealythe maker of Tempur Pedic mattressestanked after it failed to reach an agreement with a key retailer. A statement from Tempur Sealy said that it was unable to come to an agreement with Mattress Firm to continue to sell its products. The stock fell around 28% in trading.Pending home sales beat expectations. The measure ofhomes sold but not closed increased by 1.6% in December from the month before. This was ahead of a 1.1% gain expected by economists.Personal spending and PCE inflation met expectations, while personal income came up short. Personal spending jumped 0.5% from the month before and core PCE inflation increased 0.2% in December, both matching expectations. Personal incomes rose by 0.3%, short of expectations of 0.4%.The Dallas Fed Manufacturing index hit its highest level since April 2010. The measure of Texas manufacturing came in at 22.1, well above expectations of 15.0 from economists.ADDITIONALLY:Fitbit slashed its guidance and the stock tanked.Morgan Stanley thinks ESPN can get its mojo back.Trump deflected some of the blame for congested airportson Delta.Here's Business Insider's Alex Heath on what to expect from Facebook's earnings this week.SEE ALSO:There are a lot of problems with Trump's 20% border tax ideaJoin the conversation about this storyNOW WATCH: Here's how to use one of the many apps to buy and trade bitcoin
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