Dow futures fall 100 points amid Trump’s ban order on Chinese apps
Futures tied to major U.S. equity averages fell on Friday after an executive order from President Donald Trump raised tensions further with China.
Investors were also eyeing virus stimulus talks in Washington and a big jobs report due Friday.
Dow Jones Industrial Average futures lost 104 points, or 0.4%. The move implied a drop of more than 120 points at the open. S&P 500 futures lost 0.3%. Nasdaq 100 futures shed 0.4%.
The overnight moves came after U.S. President Donald Trump on Thursday issued executive orders to address “the threat posed” by Chinese apps TikTok and WeChat. As part of the order, any transaction with ByteDance and Tencent, the parent companies of TikTok and WeChat, respectively, will be barred in 45 days.
It comes as tensions between Washington and Beijing continue to escalate over several issues including the origins of the coronavirus and democracy in Hong Kong.
Meanwhile, investors are watching closely for the upcoming monthly jobs report due at 8:30 a.m ET Friday.