It follows similar drops in markets in Europe and Asia after the US president said he was moving forward with the plans.

ICE is set to get $76.5 billion, nearly 10 times its current annual budget. Some $45 billion will go toward increasing detention capacity. Nearly $30 billion is for hiring 10,000 more staff so the agency can meet its goal of 1 million annual deportations. The White House has said ICE will grow from 20,000 employees to about 30,000.

Immigration and Customs Enforcement recruits are being offered a maximum $50,000 signing bonus, student loan repayment and forgiveness options, and enhanced retirement benefits to join the agency.

The agency responsible for carrying out President Donald Trump's mass deportations agenda says it has already made tentative job offers to more than 1,000 people as it ramps up hiring following the passage of legislation earlier this month giving the agency a massive infusion of cash.