US stocks' slide continues: Dow futures point to lower open
The Dow fell more than 600 points at one point and slipped below 26,000 points for the first time since March 29. The Nasdaq dropped below 8,000 points for the first time since April 1[ads1]8. [19659007] Shares in the technology and industrial sector were hit particularly hard, because of the industries' inherently global nature. Companies rely on global trade for materials, parts and to sell to their end markets.
In European stocks the picture is similar to Wednesday and all major indexes are lower than a larger slide on Tuesday.
On Sunday, President Donald Trump tweeted that existing tariffs Chinese goods could be up to 25% from 10% currently. Treasure secretary Steven Mnuchin and US trade representative Robert Lighthizer confirmed that higher tariffs would be possible at Friday in comments late Monday.
One light at the end of the tunnel is that Chinese Vice Premier Liu He said China would continue to negotiate with the United States, despite the tariffs.
The global stock market declines inspired comparisons of the last big stocks selloff in December. Then, the market was still pricing at more risk of a slowdown in global and perhaps also US growth. But the US economy is chugging along nicely, as the 3.2% first quarter GDP growth proved.
