Dow futures recover as Navarro walks back his comments, Trump says trade deal 'fully intact.'
U.S. stock-index futures Monday night briefly skidded by more than 400 points, after White House trade adviser Peter Navarro implied to Fox News in a late-Monday interview that a hard-fought trade agreement that was signed with China in January had been terminated by President Donald Trump.
How are benchmarks performing? Futures for the Dow Jones Industrial Average YM00, +0.08% YMU20, +0.08% were last up 43 points, or 0.2%, at 25,993, but had shed 440 points, touching a low at 25,514, according to FactSet data. Those for the S&P 500 index ES00, +0.11% ESU20, +0.11% were trading virtually unchanged at 3,115.50 but had traded at as low as 3,060. Nasdaq-100 futures NQ00, -0.06% NQU20, -0.06%, meanwhile, lost 5.75 points, or 0.1%, at 10,119, but had seen sharper losses as well.
What’s driving the market? Markets got a jolt of late-night volatility after Navarro, in a Monday evening interview on Fox News, said the China trade deal was over, citing unnamed intelligence officials that allegedly point to a Wuhan laboratory as the source of the novel strain of coronavirus that results in COVID-19.
iframe.twitter-tweet { width: 100% !important; } The Trump administration has long blamed China of mishandling the COVID-19 outbreak.
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