Dow set to drop more than 100 points after China retaliates with new tariffs

U.S. stock index futures pointed to a lower open on Friday after China said it will slap new tariffs on U.S. goods.

At around 8:06 a.m. ET, Dow Jones Industrial Average futures were down 90 points, indicating a drop of 105 points at the open. S&P 500 and Nasdaq 100 futures also pointed to a lower open. Losses were muted as traders awaited a speech from the Federal Reserve chief on monetary policy.

China will retaliate with new tariffs on another $75 billion worth of U.S. goods, including autos. The tariffs will range between 5% and 10% and will be implemented in two batches on Sept. 1 and Dec. 15.

Article submitted hy: CP01

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