U.S. goods futures traded lower on Thursday night after the major lists suffered steep losses amid growing trade concerns.
As of 8:24 p.m. ET, the implied undecided for the Dow was more than 100 points lower. And the implied opens for both the S&P 500 and the Nasdaq were also in the red.
The Dow Jones industrial norm lost 724 points on Thursday and closed just outside amendment territory, while the S&P 500 and Nasdaq composite dropped 2.5 percent and 2.4 percent, mutatis mutandis.
Investors were rattled after the Trump administration unveiled taxes designed to punish China for intellectual property theft, imposing there $60 billion in retaliatory charges.
Equities have been lower than drunk pressure recently as President Donald Trump moves forward with his protectionist deal agenda. Trump implemented tariffs on steel and aluminum and aluminum substances earlier this month.
“Trump’s protectionism is making investors anxious,” Dario Perkins, managing director of global macro at TS Lombard, state in a note Thursday. “Past experience suggests these policies are faulty, while even moderate trade barriers could disrupt today’s complex far-reaching supply chains.”
Stocks were also under pressure as the technology sector fell. The PowerShares QQQ Trust (QQQ), which tracks the tech-heavy Nasdaq 100 guide, dropped 2.5 percent. Tech has been under pressure lately as Facebook appropriations decline on news that Cambridge Analytica gathered data from 50 million Facebook profiles without the leniency of its users.