United States Stock Futures Fall After Trump Announces New Price Series

NEW YORK – US stock index futures extended losses after the end of trading on Monday after President Trump announced a new round of tariffs on Chinese imports for about $ 200 billion.

Trump said he would impose 10 percent tariffs on about $ 200 billion in Chinese imports, but he spared the smart watches from Apple and Fitbit.

S & P 500 e-mini futures were down 0.3 percent in trading for the night session.

Trump also warned that if China retaliated against US farmers and industries, the administration would pursue tariffs on about $ 267 billion in additional imports.

Earlier, US stocks fell on Monday, driven by declines in technology and consumer discretionary stocks ahead of President Donald Trump's announcement of China's $ 200 billion tariff on imports.

"Even if it were predictable and we sold before closing, we might think the market should go down further," said Michael O. Rourke, chief strategist at JonesTrading in Greenwich, Connecticut.

"The higher the rates, the bigger the problem for the administration and the US It really makes things go up, as you start to reduce your muscles a bit, and the consumers will start feeling it. "

Earlier, China had promised not to defend the growing trade dispute, which would fuel tensions as a new list of dutiable products, including technology and consumer goods, was expected from Washington. .

"It's the sixth or seventh time we're talking about this series of rates," said Paul Nolte, portfolio manager at Kingsview Asset Management in Chicago. "As long as Trump is comfortable with raising his rates, he thinks he's winning."

Consumer Discretionary and Technology were the largest declines in the S & P 500 Index during the regular session, down 1.3% and 1.4%, respectively.

Amazon.com led discretionary stocks down, down 3.2%.

Apple Inc. said the moves could affect a "wide range" of its products. The iPhone maker's shares were down 2.7%, which is the main drag on the Dow, despite previous reports that the United States would save some of its products in the latest round of deals. # 39; tariff actions.

All value groups in the FAANG dynamics fell between 1.0% and 3.9%. Other stocks in FAANG include Netflix, Facebook and Google-Parent Alphabet.

"(The shares of FAANG have had) very good results, the fact that they have moved somewhat away does not prevent them from recording very good results this year," said Nolte. But he noted that "investors could look slowly outside of technology for the next opportunity".

The Dow Jones Industrial Average fell 92.55 points, or 0.35%, to 26,062.12, the S & P 500 16.18 points, or 0.56%, to 2,888.8 and the Nasdaq Composite fell from 114.25 points (1.43%) to 7,895.79.

The top three US indexes were the lowest, the state-of-the-art Nasdaq, posting its largest percentage loss since the end of July.

The blade of the S & P 500 was concentrated. Of the 11 main sectors of the index, only four ended the session in negative territory.

The CBOE Volatility index, indicator of investor anxiety, rose 1.54 points, its first rise in six sessions.

Retailers, including Macy's Inc. and Kohls Corp, declined, contributing to the 2.1% decline in the S & P 500 retail index.

Twitter retreated 4.2%, the biggest loser in the S & P 500 Technology Index, after broker MoffettNathanson reported concerns about rising spending.

Falling problems outnumbered progress on the New York Stock Exchange by a ratio of 1.46 to 1; on the Nasdaq, a ratio of 2.12 to 1 favored declines.

The S & P 500 posted 34 new 52-week highs and 3 new lows; the Nasdaq Composite recorded 51 new highs and 90 new lows.

Trade volume in the United States was 6.21 billion shares, compared to the average of 6.14 billion in the last 20 trading days.

(Stephen Culp report, Caroline Valetkevitch's additional report, edited by Clive McKeef)