U.S. futures slumped on Wednesday as trade concerns weighed on investor sentiment.
The S&P 500 futures fell 7 points or 0.25% to 2,891.0 as of 6:51 AM ET (10:51 GMT) while Dow futures dipped 94 points, or 0.36%, to 25,891.0. Meanwhile tech heavy NASDAQ 100 futures decreased 22 points, or 0.29%, to 7,616.50.
Trade talks between the U.S. and China are expected to continue on Wednesday, after ending tense negotiations on Friday over a revamped North American Free Trade Agreement.
The White House agreed to a deal with Mexico last week but faces hurdles with its northern neighbor over access to Canada’s closed dairy market and a dispute-resolution mechanism.
Meanwhile, fresh U.S. tariffs on another $200 billion worth of Chinese goods could go into effect as soon as the public comment period ends on Thursday.
Facebook (NASDAQ:FB) fell 0.67% in pre-market trading, as Chief Operating Officer Sheryl Sandberg appears alongside Twitter Inc. (NYSE:TWTR) CEO Jack Dorsey at a Senate committee hearing on social media influence in elections. The two are expected to defend their companies efforts to fight election interference and misinformation.
Meanwhile, Chinese e-commerce company Jd.Com Inc Adr (NASDAQ:JD) slumped 5.20% while its rival Alibaba (NYSE:BABA) was down 1.72% and luxury car maker Tesla (NASDAQ:TSLA) decreased 0.99% amid reports that automaker Mercedes-Benz is making a rival electric car.
Elsewhere Advanced Micro Devices Inc (NASDAQ:AMD) rose 0.89% while medical marijuana company Canopy Growth Corp (NYSE:CGC) increased 5.33%.
In Europe stocks were down. Germany’s DAX fell 70 points or 0.58% while in France the CAC 40 was down 50 points or 0.95% and in London the FTSE 100 decreased 33 points or 0.45%. Meanwhile the pan-European EURO STOXX 50 dipped 23 points or 0.70% while Spain’s IBEX 35 lost 10 points or 0.11%.
In commodities, Gold futures inched up 0.04% to $1,199.60 a troy ounce while crude oil futures decreased 1.40% to $68.89 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, was up 0.06% to 95.43.
