REUTERS: U.S. stock index futures plunged on Monday after President Donald Trump shocked investors by threatening to hike tariffs on US$200 billion worth of Chinese goods, raising fears of a global slowdown and halting a relative period of calm in the markets.
Trump said tariffs on US$200 billion worth of Chinese goods would increase to 25 percent on Friday from 10 percent, reversing a decision he made in February to keep them at the 10 percent rate thanks to progress between the two sides. All the 28 Dow components that were trading premarket were in the red. Boeing Co, the single largest U.S. exporter to China, fell 3.3per cent, while Caterpillar Inc also declined 3.3per cent."The risk-off sentiment has been the response to this swerve from Trump," said Han Tan, market analyst at FXTM.
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