U.S. stock futures sink on report of ‘no progress’ at U.S.-China trade talks

U.S. stock futures sank late Wednesday, after a report that lower-level U.S.-China trade talks have made “no progress” in resolving the yearlong trade war. The Hong Kong-based South China Morning Post reported late Wednesday that talks this week to lay the groundwork for high-level negotiations starting Thursday have made no headway on critical issues, and that the main negotiations have been cut from two days to just one day, with the Chinese delegation now scheduled to leave Washington on Thursday. China reportedly refused to consider changes to forced transfers of technology, a main concern of the U.S. Dow Jones Industrial Average futures

YM00, -0.87%

immediately fell nearly 300 points, or 1%. S%P 500 futures

ES00, -0.95%

and Nasdaq Composite futures

NQ00, -1.12%

were also down more than 1%.

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