Escalation in China trade fight leads to early losses
2018-06-15 09:39:01
Stock futures were lower throughout the early session, leading to a negative start for the market. The weakness is being attributed to increased concerns about a trade war with China after the U.S. confirmed it will implement a 25% tariff on $50B of goods from China and said it will pursue additional tariffs if China engages in retaliatory measures, which it has stated already that it will. The day's economic numbers so far have been generally in-line with expectations, with the next data point - the University of Michigan consumer confidence reading - due at 10:00 am ET.