U.S. Stock Index Futures Tumble on Renewed Trade War Jitters

(Bloomberg) -- U.S. equity index futures fell while European stocks reversed early gains amid renewed worries over a potential global trade war as President Donald Trump is set to approve new tariffs on Chinese goods.

S&P 500 Index futures were down 0.4 percent around 04:25 a.m. in New York in volatile trading, while Dow Jones futures were down 0.5 percent and contracts on Nasdaq futures dropped 0.2 percent.

Trump has approved tariffs on Chinese goods worth about $50 billion, said a person familiar with the decision. The U.S. is also nearing completion of a second list of products ordered by Trump, worth $100 billion, which would be subject to the same public hearing process as the first, Reuters reported on Friday.

To contact the reporter on this story: Gabriella Lovas in Budapest at glovas2@bloomberg.net

To contact the editors responsible for this story: Celeste Perri at cperri@bloomberg.net, Blaise Robinson

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