Following yesterday's escalation of the trade war, fears about the growth of the global economy have resumed, with Nonfarm payrolls coming at 3:30 pm.
Trump has threatened to impose new 10% tariffs on Chinese goods for $ 300 billion next month. This sent the shares into negative territory, prompting investors to escape into more defensive assets such as the Swiss franc and the Japanese yen, as well as bonds. The Chinese replied that they would not be blackmailed and their response would not be late.
DOW futures are down about 58 points and the S & P500 is down about 8. The NASDAQ is also red by about 41.5 points. Trump also has to decide on tariffs on Europe later today. Today, we also expect the data on the level of non-unemployment to be added to the data for the report. Micron
Micron Technology, Nvidia Corp., Applied Materials and Intel Corp are down by between 1% and 3% in premarkets.
NetApp is down 18.8% due to lowered growth forecasts in 2020. Pinterest is up 17.1% after the company raised its growth expectations and exceeded Wall Street expectations.
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