Aggravated by the accusation that China is a "currency manipulator" the Trade War between the U.S. and China continue to create fears and apprehensions among market participants. The U.S. futures had plummeted on Friday as a result. The plot thickened upon the report that the White House had delayed a decision that would allow American tech companies to restart transactions with Chinese company, Huawei.
It had been reported that U.S. government held off the decision a few days after Beijing ceased purchasing U.S. farming goods. Things became more heated after the "currency manipulator" hullabaloo and China allegedly holding the Yuan below 7 to the Dollar.
Weak economic data from China was also thrown into the mix, resulting into increased fears of global slowdown. For the first time in 3 years in July, China's factory gate prices fell in year-on-year terms.
And now the following figures stand:
Nasdaq 100 futures - fell 65 points or 0.8% by 6:40 AM ET (10:40 GMT),
Dow futures - dipped 147 points or 0.6%
S&P 500 futures - declined 19 points or 0.7%.
Uber (NYSE:UBER) - plummeted 8.9% in premarket trade post record of $5.2 Billion loss, due to high costs connected to its IPO; there is also a slowdown in growth the ride-hailing aspect of the business.
Activision Blizzard (NASDAQ:ATVI) - fell 1.8%; revenue dipped due to high costs of developing its key game franchises.
Walt Disney (NYSE:DIS) - dipped 0.4%,
Boeing (NYSE:BA) - declined 1% after security flaws issue