US Futures in Red Trade War Escalates

Futures show a negative start of the session on Monday after a trade-off between the US and China is under way.

Following last week's bargaining agreement, Trump has instructed Robert Lighthizer to prepare a 25% increase plan for all China + items on the list today.

Chinese Foreign Minister Geng Shuang said in a statement that "China will never surrender ..." in response to the attacks.
Although the Trump needs China to pay for the tariffs, there will be a White House adviser Larry Kudlov admits in an interview with Bloomberg on Sunday, and "both sides will pay." However, he suggested that the blow to the Chinese economy would be a large, accessible US effect.
Dow will open 1.74% down, S & P 500 down by 1.86% and NASDAQ 2.4% before the start of the week.

Premarket:

FAANG - Facebook (FB.US), Apple (AAPL.US), Amazon (AMZN.US), NETFLIX (NFLX.US) and Google (GOOGL.US) will turn red between 2% - 3%.

Uber (UBER.US) sank 6.9% to 9% of last week's IPO, while Lyft (LYFT.US) is 3.1% or lost 30% of the March IPO.

Teva's drug (TEVA.US) opens 8.7% after the company is charged with manipulating drug prices.

Catalyst Pharmaceuticals (CPRX.US) will cancel a 17.8% increase after the company announced that there was no loss to 1Q of expectations for analysis, although the company's price still has 50% since the beginning of the year.

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