Wall Street was set to open lower on Monday, as investors shunned risky bets on ...
- Wall Street was set to open lower on Monday, as investors shunned risky bets on fears that a drawn-out trade war between the United States and China could force the global economy into recession.
President Donald Trump said on Friday he was not ready to make a deal with China, pouring cold water on any hopes that the dispute would end soon. Trump’s pledge to tax the remaining $300 billion worth of Chinese imports goes into effect on Sept 1. Over the weekend, Goldman Sachs Group Inc said fears of the U.S.-China trade war leading to a recession were growing and that it no longer expected a trade deal before the 2020 U.S. presidential election.
At 8:27 a.m. ET, Dow e-minis were down 144 points, or 0.55%. S&P 500 e-minis were down 16.25 points, or 0.56% and Nasdaq 100 e-minis were down 47.25 points, or 0.62%.
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