Dow futures point to more than 150-point decline at Monday’s open

Traders work on the floor of the New York Stock Exchange (NYSE) in New York.

Brendan McDermid | Reuters

American stock indexes are set for a rough start to Monday, futures contracts showed.

Dow futures were down nearly 200 points as of 7:11 p.m. ET, implying a decline of more than 150 points for the index at its Monday open. S&P 500, Nasdaq, and Russell futures were similarly pointing to a negative start for their respective indexes.

Markets are continuing to watch for developments in the the ongoing trade war between the U.S. and China.

On Saturday, U.S. President Donald Trump said China should act now to make an agreement — or it would risk facing a worse deal if negotiations continue into a possible second term after the 2020 presidential election.

The president claimed China was ‘beaten so badly’ in recent trade negotiations that Beijing wanted to wait until after the 2020 election in the hope a Democrat would win the White House and offer them a better deal.

Yet despite that tension between the world’s two largest economies, White House Economic Advisor Larry Kudlow said Sunday that Trump and Chinese President Xi Jinping are likely to meet at the June G-20 summit in Japan.

Kudlow said the chances of such as meeting “were pretty good,” but he said there are “no concrete, definite plans” for when U.S. and Chinese negotiators will meet again.

—CNBC’s Spencer Kimball contributed to this report.

Free America Network Articles

Leave a Comment