U.S stock futures tumble following Trump’s tariffs hikes against China

U.S. stock markets futures sharply dropped in early trading Sunday, following comments by President Donald Trump on Friday that escalated trade-war tensions. Dow Jones Industrial Average futures

YM00, -1.22%

fell more than 300 points, or more than 1%, and S&P 500 futures

ES00, -1.23%

and Nasdaq Composite futures

NQ00, -1.47%

were down by more than 1% each. On Friday, Trump said he would raise tariffs on $250 billion of Chinese goods to 30% from 25% starting Oct. 1, and hike tariffs on another $300 billion in Chinese imports to 15% from 10%, in two stages, on Sept. 1 and Dec. 15. Trump said Sunday at the G-7 summit in France that he had some regrets about hiking the tariffs, which the White House later clarified as meaning he regrets he didn’t raise them higher.

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