FOX Business’ Edward Lawrence discusses the permanence of the China tariffs deadline.
U.S. equity futures are pointing to a higher open following Monday’s trade deal concerns that sent stocks plummeting.
Continue Reading Below
The three major futures indexes are indicating a rise of 0.5 percent after a Bloomberg report said a phase one deal could still be done before the December 15 tariff deadline.
On Tuesday at the NATO meeting, President Trump said he has “no deadline” for a trade deal with China and doesn’t mind waiting until after next year’s presidential election to make one.
GET FOX BUSINESS ON THE GO BY CLICKING HERE
That set off an earthquake in equity markets, the benchmark S&P 500 index fell 0.7 percent, the Dow Jones Industrial Average lost 1 percent and the Nasdaq dropped 0.6 percent.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 27502.81 | -280.23 | -1.01% |
| SP500 | S&P 500 | 3093.2 | -20.67 | -0.66% |
| I:COMP | NASDAQ COMPOSITE INDEX | 8520.642756 | -47.34 | -0.55% |
Investors had hoped for at least enough progress to stave off new U.S. tariffs on Chinese goods, including smartphones and laptops, scheduled to start Dec. 15.
Trump proposed tariffs on $2.4 billion in French products in retaliation for a tax on global tech giants including Google, Amazon and Facebook. That follows a threat Monday to raise tariffs on steel and aluminum from Argentina and Brazil.
On Wednesday, Asian stock markets followed Wall Street lower.
Tokyo’s Nikkei sank 1 percent, Hong Kong’s Hang Seng gave up 1.2 percent and the Shanghai Composite retreated 0.2 percent.
CLICK HERE TO READ MORE ON FOX BUSINESS
In Europe, London’s FTSE was higher by 0.1 percent, Germany’s DAX gained 1 percent and France’s CAC added 1.1 percent.
The Associated Press contributed to this article.
