Equities tried to snap back after posting sharp losses to start the week.
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Dow Jones and S&P futures are little changed and the Nasdaq Composite was up 0.08%.
Asian markets continued to retreat.
China’s Shanghai Composite finished the day down 0.5%.
Hong Kong’s Hang Seng ended the day down 0.2% to a 6-month low.
Japan’s Nikkei clawed its way back to end flat after falling 1 percent in early trade.
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In Europe, London’s FTSE gained 0.49%, Germany’s DAX rose 0.40% and France’s CAC added 0.41%.
Investors reacted on Monday to the latest developments in a tit-for-tat trade dispute between the U.S. and China.
The Dow Jones Industrial Average fell 328.09 points, or 1.33%, to 24,252.80. The S&P 500 slipped 37.81 points, or 1.37%, to 2,717.07. The Nasdaq Composite was down 160.81 points, or 2.09%, at 7,532.01.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 24252.8 | -328.09 | -1.33% |
| SP500 | S&P 500 | 2717.07 | -37.81 | -1.37% |
| I:COMP | NASDAQ COMPOSITE INDEX | 7532.0062 | -160.81 | -2.09% |
The market came under pressure following news reports that President Donald Trump was preparing a plan that would curb technology exports to China and bar many Chinese companies from investing in U.S. tech firms. The tech-heavy Nasdaq posted its worst day in three months.
In a tweet, U.S. Treasury Secretary Steven Mnuchin disputed the reports, calling them “false, fake news.” Mnuchin said the proposed investment restrictions would apply to “all countries,” not just China, trying to steal U.S. technology.
In economic data, traders digested a better-than-expected measure of new home sales. Sales jumped 6.7% in May from April, with 689,000 homes sold versus 665,000 expected. The median sales price was $313,000, down 3.3% versus May 2017.
On Tuesday, the Case-Shiller report on home prices for April will be released. The March report showed prices in the 20-city index rose 6.8 percent, making it 12 straight months of rising home prices.
Investors will also get the latest report on consumer confidence, which rebounded in May following a slight decline in April.
And in an historic move, Walgreens will replaces General Electric in the Dow. GE had been in the Dow for more than a century.
FOX Business’ Leia Klingel and Matthew Rocco contributed to this article.
