U.S. Index Futures Tumble as U.S. Pledges Action Against Tariffs

U.S. stock index futures dropped along with European and Asian stocks amid deepening concerns over the impact of potential global trade restrictions as the U.S. vowed to take action against “unjustified tariffs”. Canada is said to be preparing new measures to prevent a potential flood of steel imports from global producers seeking to avoid U.S. tariffs.

Futures on the S&P 500 sank 0.8 percent while contracts on the Dow Jones Industrial Average Index tumbled 0.9 percent and Nasdaq futures were down 1.2 percent. U.S. Trade Representative Robert Lighthizer said that “duties that have been announced on U.S. exports are completely without justification under international rules.”