US futures fell on Monday after President Donald Trump's comments dampened expectations over a US-China trade deal, as escalating violence in Hong Kong added to concerns for investors.
The hope of a "phase one" deal to end the devastating 16-month trade war and the positive gains from the corporate sector triggered a rally, which helped the three major stock indices close at record highs on Friday.
Trump said Saturday that the United States will only make a deal if it is the "right deal" for America, adding that talks have been slower than it would like.
Commercially Sensitive Caterpillar Inc. (CAT.US) Advanced Micro Devices Inc. (AMD.US), Micron Technology (MU.US), and Intel Corp (INTC.US) fell between 0.8% and 1.3%, respectively.
Dow e-minis were down 113 points or 0.41%. The S&P 500 e-minis was down 11.5 points or 0.37% and the Nasdaq 100 e-minis was down 35.5 points or 0.43%.
Qualcomm Inc (QCOM.US) fell 1.8% after Morgan Stanley (MS.US) lowered its forecast for the company.
Cisco Systems Inc. (CSCO.US) dropped 1.3% after Piper Jaffray cut its forecast for the company.
SunPower Corp (SPWR.US) gained 3.8% after the solar cell and panel maker said it would split into two separate publicly traded companies.
Lipocine Inc (LPCN.US) dropped 67% after the US Food and Drug Administration refused to approve the company's drug.
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