President Trump on Tuesday revoked a decades-old executive order that strengthened protections against workplace discrimination. Why it matters: Trump's desire to dismantle diversity, equity and inclusion initiatives in the federal government's employment practices could set the tone for private companies nationwide to do the same.

For U.S. publicly traded companies weighing the future of their diversity, equity and inclusion programs in the wake of President Donald Trump’s executive order gutting affirmative action measures, the risks go beyond getting hit with a federal probe.