As expected, world markets are reacting to U.S. President Donald Trump’s State of the Union address. But so far things aren’t off to a great start.

Trump’s antagonistic speech is leading investors to sell this morning after he doubled down on building a wall on along the Mexican border, which could lead to yet another government shutdown. Fresh earnings reports in Europe weren’t enough to offset investor worries over the speech.

If North American investors react the same way as their global counterparts it could erase yesterday’s gains, in which the TSX closed up 100 points finishing at 15,702 and the Dow Jones finished at 25,411, up 172 points.

Ahead of the bell oil is down 49 cents to $53.17 U.S. per barrel, gold is down $3.40 to $1,315.80 an ounce, and the loonie is down more than half a cent to 75.72 cents U.S.