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Top 3 Things You Need To Know About The Market On Monday
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Loading...1. Donald Trump threatens to raise tariffs for China
U.S. President Donald Trump increased pressure on China over the weekend, threatening to raise a 10% tariff on $200 billion in goods to 25% on Friday and added that an additional $325 billion in goods could potentially be subject to tax.
The threat comes ahead of high level negotiations in Washington this week. Although The Wall Street initially reported that China was considering cancelling Vice Premier Liu He’s trip, a spokesperson from the Chinese Foreign Ministry confirmed that it was still planning to send a delegation. There was however a lack of clarity over whether the Vice Premier himself would still make the trip.
2. Dow prepares to open with a 500 point drop
Trump's post has triggered a risk-off movement in the financial markets, which has led to a drop in shares.
US futures fell sharply on Monday after strong earnings last week. Dow's futures dropped 522 points, or 2.0% at 12:30 GMT, while S & P 500 futures slid by 55 points, 1.9% and Nasdaq 100 futures trading down 186 points, or 2.4%.
3. Oil prices have fallen due to tensions between the US-China
Oil prices sank on Monday as tensions between the US and China resume.
US WTI Crude Oil futures were priced at $ 60.51 a barrel at 08:30 GMT for Monday, down from $ 1.43 a barrel or 2.3 percent from their last closing.
Brent oil futures fell below $ 70 a barrel, traded at $ 69.33 a barrel, down from $ 1.52 a barrel, or 2.2 percent since their last closing.
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