U.S. futures pointed to a lower opening for stocks on Friday, after China’s state-run media expressed frustration at the course of trade negotiations with the U.S.
The toughening rhetoric from China, which contrast with its earlier optimism regarding a resolution of the trade dispute, is forcing investors to come to terms with heightening tension between the two largest economies in the world.
It follows the exclusion of telecom equipment giant Huawei from the U.S. market on Wednesday by executive order. Elsewhere, it was reported that Chinese buyers staged an effective boycott of U.S. pork last week, despite a shortage of meat in their own country due to a devastating outbreak of swine fever.
Dow futures slumped 123 points or 0.5% by 06:40 AM ET (10:40 GMT), while S&P 500 futures was down 14 points or 0.5%. Tech-heavy Nasdaq 100 futures lost 48 points or 0.6%.
Source : Investing.com