Futures extend losses after China plans retaliation

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Futures point to steep losses at open as trade tensions worsen

REUTERS: U.S. stocks futures extended losses on Monday after China said it planned to set import tariffs against US$60 billion worth of U.S. goods.

Futures were weaker earlier after U.S. officials demanded promises of concrete changes to Chinese law and Beijing said it would not swallow any"bitter fruit" that harmed its interests.At 8:13 a.m. ET, Dow e-minis were down 453 points, or 1.74per cent. S&P 500 e-minis were down 53.75 points, or 1.86per cent and Nasdaq 100 e-minis were down 182.75 points, or 2.4per cent.

 

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