U.S. stock index futures were lower Monday amid lingering U.S.-China trade worries while protests in Hong Kong escalate.
Around 7:30 a.m. ET, Dow Jones Industrial Average futures were down 118 points, indicating a loss of 136 points at the open. S&P 500 and Nasdaq 100 were also lower.
These decline would knock the major averages from record levels reached last week. The Dow notched its eighth record close of the year on Friday while the S&P 500 closed at an all-time high for the 19th time. The Nasdaq, meanwhile, posted a record close for the 14th time in 2019.
President Donald Trump said Friday he had not agreed to roll back tariffs on China. Those comments came after the Chinese commerce ministry said that both sides had agreed to cancel existing tariffs in phases. A U.S. official also reportedly said both sides agreed to roll back the tariffs in tranches.
The stock market’s recent move to record highs comes in part because of improving sentiment around U.S.-China trade talks. With his comments on Friday, Trump dampened trade expectations in the market.