Thu. Nov 14th, 2019

U.S stock futures fall following Trump’s tariff hikes against China

1 min read

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, -0.69%

initially fell more than 300 points, or more than 1%, but recovered somewhat as the trading session progressed, and were last down about 200 points. S&P 500 futures

ES00, -0.75%

and Nasdaq Composite futures

NQ00, -0.78%

also initially dropped by more than 1% each, but narrowed losses as the trading day progressed. 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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