Stock Futures Drop as China Says U.S. Is Undermining Trade Deal

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Stock Futures Drop as China Says U.S. Is Undermining Trade Deal

Stocks looked set to tumble on Monday after the U.S. and China both accused each other of violating the 90-day trade truce they had brokered in Geneva last month.

Futures tracking the Dow Jones Industrial Average fell 153 points, or 0.4%. S&P 500 futures also dropped 0.4%, and contracts tied to the tech-heavy Nasdaq 100 were down 0.5%.

The three blue-chip indexes were on course to slide after China’s Ministry of Commerce said that the White House had “severely undermined” the consensus reached at the Geneva trade talks. The Commerce Ministry’s statement came after Trump said in a social-media post on Friday that China “has totally violated its agreement” with Washington.

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