Stock selling continues on Chinese trade threats - Fox Business

U.S. stock futures were indicating that selling would continue on Thursday as China threatened retaliation if Washington goes ahead with planned Sept. 1 tariff hikes.

Dow Industrial futures are pointing to a decline of 0.6 percent, S&P 500 futures are lower by 0.5 percent and Nasdaq futures are down 1 percent.

The Chinese announcement did not mention President Trump's decision this week to delay penalties until December and removing tariffs on some Chinese imports.

Markets jumped skyward on that news on Tuesday.

Stock plummeted on Wednesday with the Dow Jones Industrials tumbling 800 points -- the fourth largest daily point drop on record and the worst this year.

Ticker	Security	Last	Change	%Chg
I:DJI	DOW JONES AVERAGES	25479.42	-800.49	-3.05%
SP500	S&P 500	2840.6	-85.72	-2.93%
I:COMP	NASDAQ COMPOSITE INDEX	7773.939028	-242.42	-3.02%

Global recession fears drove Wall Street investors to the safety of U.S. government debt as the yield curve inverted. That's when the yield on the 2-year note exceeds the yield on the 10-year Treasury. it has been an historically accurate indication that a recession is on the way.

Global growth fears were also part of the selling equation as Germany's growth contracted and several reports from China indicated slowing of the economy.

Traders are also concerned about the protests in Hong Kong, where police and protesters faced off again, after Trump tied a U.S. trade deal with China to a humane resolution of the protests

On the earnings front, Cisco Systems shares fell 7 percent in extended trading after the company forecast current-quarter profit below Wall Street estimates.

investors will be watching the latest results from Walmart a day after Macy's results disappointed.

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On the economic calendar, retail sales for July will be released along with weekly jobless claims.

The Associated Press contributed to this article.

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