U.S. stocks were set to come under pressure again on Friday, with investors unnerved by the prospect of a global trade war as China fired its first retaliatory salvo against tariffs of up to $60 billion announced by the Trump administration.
Investors sought shelter in gold and the Japanese yen, which was trading at its highest levels since the U.S. presidential election in 2016, after one of the worst days for Wall Street in weeks. Asian markets picked up the baton with deep losses and European stocks opened sharply lower.
Dow Jones Industrial Average futures fell 113 points, or 0.5%, to 23,851, while S&P 500 futures dropped 8.3 points, or 0.3%, to 2,635.5. Nasdaq-100 futures fell 48.5 points, or 0.7%, to 6,643.50.
Major indexes saw their biggest one-day drops since Feb. 8 on Thursday. The Dow slid 724.42 points, or 2.9%, to end at 23,957.89, and is now 10% below the all-time high hit earlier this year.
The S&P 500 turned negative for the year, tumbling 2.5% to 2,643.69, while the Nasdaq Composite Index lost 2.4% to end at 7,166.68.
Source : Market Watch