Futures indicate a negative start of the session on Monday after Trump resurrected the fears of commodity tariffs for hundreds of billions of dollars of imports from China.
Dow wiped out 1.8%, the S & P 500 e down 1.7% while the high-tech NASDAQ will open in red by 2.1%.
However, it was unclear whether Vice Prime Minister Liu He's delegation would attend the Washington summit, and Liu He's absence would hamper decision-making on important issues concerning resolutions between the two countries. The trumps of Trump emerged surprisingly when officials close to the talks informed progress and confirmed a possible summit in late May to sign an agreement.
Premarket:
The list of losers is predictable and damages:
Alibaba (BABA.SU) in red with -4.46%;
JD.com (JD.US) wiped -4.96%;
The NIO (NIO.US) electric car maker is in the red with -4.98%;
Advanced Micro Technologies (AMD.US) is down by -3.82%;
Apple (AAPL.US), which is exposed to pressure in both directions (import & export) dropped 2.93%.
WTI (-0.79%) also suffered from the US president's Twitter fiasco as the International Monetary Fund interprets the war as one of the greatest risks to the world economy and hence to oil demand.
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