Global markets shrugged off the news, however, with both Asia-Pacific and Europe stocks staging a muted response Tuesday. One reason is likely to be because of Trump's seemingly more flexible approach to the new policies.

Futures on Wall Street are extending losses after benchmark indices witnessed selling pressure at the start of the new trading week. The Dow futures are currently down 110 points, while those on the S&P 500 and Nasdaq are down 15 and 25 points respectively.