American stock indexes are set for a rough start to Monday, futures contracts showed.
Dow futures were down more than 250 points, implying a decline of more than 200 points for the index at its Monday open. S&P 500, Nasdaq, and Russell futures were similarly pointing to a negative start for their respective indexes.
Markets are continuing to watch for developments in the ongoing trade war between the U.S. and China.
On Saturday, U.S. President Donald Trump said China should act now to make an agreement or it would risk facing a worse deal if negotiations continue into a possible second term after the 2020 presidential election.
The president claimed China was “beaten so badly” in recent trade negotiations that Beijing wanted to wait until after the 2020 election in the hope a Democrat would win the White House and offer them a better deal.
Last Friday, major markets across the globe advanced despite Trump making good on his threats to raise tariffs from 10% to 25% on $200 billion worth of Chinese goods shortly after the stroke of midnight ET.