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Dow futures down nearly 400 points after Peter Navarro says China trade deal is ‘over’

https://www.cnbc.com/2020/06/22/stock-market-futures-open-to-close-news.html

Stock futures turned negative after White House trade advisor Peter Navarro told Fox News in a Monday interview that the trade deal with China was “over.”

As of Monday evening stateside, Dow futures dropped 398 points, implying an opening drop of more than 300 points at the open on Tuesday. Futures on the S&P 500 and Nasdaq-100 also pointed to a lower open for the two indexes.

While stocks started the week on a strong foot, it came under thin trading. The SPDR S&P 500 ETF Trust (SPY), which tracks the broader market index, traded more than 67 million shares on Monday. That’s well below the ETF’s 30-day volume average of 105.01 million.


White House economic advisor Larry Kudlow told CNBC on Monday “there is no second wave coming and that lawmakers will likely develop another stimulus package by the end of next month.