- Dow Jones Industrial Average (DJIA) futures traded slightly lower on Thursday.
- US legislation to support Hong Kong protestors has China rattled and may undermine trade deal progress.
- Chinese state media hit back at Trump, threatening “revenge” for interfering in Hong Kong.
Dow Jones Industrial Average (DJIA) futures were slightly lower in early trading Thursday, pointing to a nervous stock market open. It comes as confusion reigns over the state of Trump’s trade war with China.
Throwing fuel on the fire, Trump is preparing to sign a law that will support Hong Kong protestors. It’s a move that will rattle China and may undermine trade talks. The China Communist Party’s newspaper The People’s Daily retaliated with strong language in a front-page editorial this morning.
If the U.S. side obstinately clings to its course, the Chinese side will inevitably adopt forceful measures to take resolute revenge, and all consequences will be borne by the United States.
Dow futures slightly lower on Thursday morning
Dow futures contracts struggles for direction on Thursday, slipping 24 points in premarket trading. It comes as investors remain nervous about broader recession fears.
China’s message to Trump: Back off Hong Kong
The aggressive editorial warned the US to “rein in the horse at the edge of the precipice” after Congress passed two bills in support of Hong Kong protestors.
The bills would allow the US to conduct annual checks on Hong Kong’s autonomy from China. And if found to be insufficient, the US could limit favourable trading conditions in the region. Secondly, it would enable sanctions against officials that violated human rights in Hong Kong.
A spokesman at China’s foreign ministry also struck a retaliatory tone in a statement this…