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US Stock Markets Slump On Trade Concerns

Written by cool

This means a decrease in the likelihood of signing a trade agreement and a simultaneous increase in the chances of an increase in duties on Chinese exports.

By 2:40 PM UTC, Dow blue-chip futures are down 90 points, or 0.36%, S&P 500 futures are down 10 points, or 0.38%, and high-tech Nasdaq 100 futures are down 36 points or 0. 53%.

In pre-market trading, Wells Fargo (NYSE: WFC) was down 0.15% after the bank’s customers temporarily lost their online access to their accounts due to a fire.

Mattel (NASDAQ: MAT) was one of the best gainers in pre-market trading on Friday, which rose 14% after the toy maker reported strong fourth-quarter sales of Barbie dolls. Skechers USA (NYSE: SKX) rose 18% after the company’s fourth-quarter report beat analysts’ forecasts.

Micron (NASDAQ: MU) dropped 2.4% and Tesla (NASDAQ: TSLA) dropped 0.9% after reports that the autopilot for the Model 3 was not approved in Europe.

CVS (NYSE: CVS), Arconic Inc (NYSE: ARNC) and Hasbro (NASDAQ: HAS) will submit their quarterly reports today.

Gold futures rose 0.08% to $ 1,315.25 a troy ounce, while WTI crude futuresfell 0.5% to $ 52.37 a barrel. The US dollar index, which measures the dollar’s buying power against a trade-weighted basket of six major currencies, rose 0.09% to 96,375, slightly retreating from a two-week high of 96,477 earlier in this trading session.