trade war: The futures underlying the Dow and the S&P 500 are down around 0.6%, while Nasdaq are down 0.8%. Asian and European stocks and US futures slid sharply on Monday after China's defense minister vowed not to back down in its trade war with the US. Traders are increasingly pricing in a prolonged trade war hitting the global economy, said Jasper Lawler, head of research at London Capital Group, according to Xinhua China. Adding to the worries Chinese state media announced a government investigation into Fed Ex, and South Korean exports, seen as a canary in the coalmine for global growth, slowed sharply in May. Russell Boyce/Reuters Traders are increasingly pricing in a prolonged trade war hitting the global economy, said Jasper Lawler at London Capital Group. Comments out of China that seemed to escalate the dispute after President Donald Trump announced tariffs on all Mexican imports and the end of special trade treatment for India, a status that exempted billions of dollars of the country's products from US tariffs, according to CNN. If the US wants to talk, we will keep the door open, General Wei Fenghe said at the Shangri-La Dialogue in Singapore on Sunday, according to CNN. If they want to fight, we will fight until the end. Concerns grow that new threats against Mexico and India, heaped on top of the US-China trade dispute could push the global economy into recession, Lawler said. Bully us No way, he added.
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