Dow Jones drops over 250 pts in premarket on trade deal worries

By Jeff Davies

United States markets traded sharply lower during the premarket trade on Wall Street on Monday with the Dow Jones dropping around 270 points as investors remained increasingly worried about the trade tensions between Washington and Beijing.

Earlier, US President Donald Trump called on China to “act now” in order to secure a good trade agreement while US Trade Representative Robert Lighthizer claimed additional tariffs, which would cover the remaining Chinese imports, were being prepared. Meanwhile, China stressed that it will never surrender to foreign pressures.

The Dow Jones Industrial Average fell 1.04% at 5:37 am GMT while the S&P 500 declined 1.05% at 5:38 am GMT. Meanwhile, the Nasdaq 100 lost 1.44% at the same time.

The euro was flat against the US dollar to sell for 1.1231 at 5:39 am GMT.

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