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Dow, US stock futures fall on fears of trade retaliation from China


Added 05-14-19 01:11:02pm EST - “Stocks futures fell in pre-market trading Monday after Trump's chief economic adviser said he expected China to retaliate against the higher tariffs.” - News.yahoo.com

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Posted By TheNewsCommenter: From News.yahoo.com: “Dow, US stock futures fall on fears of trade retaliation from China”. Below is an excerpt from the article.

U.S. stock futures fell in pre-market trading Monday after President Trump's chief economic adviser said he expected China to retaliate against the higher tariffs that the United States imposed last week. It is another sign the trade war between the two countries is escalating.

Contracts on the Dow Jones industrial average fell 344 points, or 1.3%, in pre-market trading on Monday, while the Standard & Poor’s 500 futures slid 42 points, or 1.5%.

“The expected countermeasures have not yet materialized. We may know more today or even this evening or tomorrow,” Larry Kudlow said on “Fox News Sunday.” He also said that the president’s plan to increase U.S. tariffs on more Chinese imports could take months to implement.

President Trump tried to increase pressure on China in a series of tweets early Monday, saying that the country would be "hurt very badly" if it didn't make a trade deal with the United States.

I say openly to President Xi & all of my many friends in China that China will be hurt very badly if you don’t make a deal because companies will be forced to leave China for other countries. Too expensive to buy in China. You had a great deal, almost completed, & you backed out!

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