U.S. stock index futures pointed to more losses on Monday as China's yuan hit its lowest in a decade, spurring a continuation of a sell-off on ...
REUTERS: U.S. stock index futures pointed to more losses on Monday as China's yuan hit its lowest in a decade, spurring a continuation of a sell-off on trade concerns on Friday that generated the S&P 500's worst weekly performance of 2019.
The support that markets have seen since May from expectations of an aggressive round of monetary easing has also evaporated in the aftermath of the U.S. Federal Reserve's statement last week. Shares of Apple Inc slid 2.5per cent in premarket trading as analysts expected the newly proposed tariffs to hurt demand for its flagship iPhone, while chipmakers Advanced Micro Devices Inc , Nvidia Corp , Micron Technology Inc and Intel Corp dropped between 1.4per cent and 3.4per cent.Industrial bellwethers Boeing Co and Caterpillar Inc fell between 2per cent and 1.3per cent, respectively.
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