U.S. stock futures plunge after Trump threatens Chinese tariffs: Morning Brief
U.S. stock futures are signaling a lower open to start the week. Dow futures dropped more than 500 points early Monday morning. On Sunday, President Donald Trump surprised investors by tweeting that the U.S. tariffs on over $200 billion of Chinese goods would rise from 10% to 25% on Friday. The president also said that 25% tariffs on an additional $325 billion worth of Chinese goods would be imposed “shortly.” Trump blamed slow trade negotiations between the U.S. and China for the threats.To get more finance news
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Meanwhile, Tyson Foods (TSN) will report earnings before market open, and Hertz (HTZ) will report after market close.China trade team still preparing to go to U.S. for trade talks: China said on Monday that a delegation is still preparing to go to the United States for trade talks, after U.S. President Donald Trump dramatically increased pressure on Beijing to reach a deal, saying he would hike tariffs on Chinese goods this week. [Reuters]
Boeing knew about missing alarm a year before first crash: Boeing (BA) has admitted it knew about a missing feature on its 737 Max plans a year before the first of two fatal crashes. The U.S. aviation giant said it realized in 2017 that it had inadvertently made an alarm feature optional on its new model. [Yahoo Finance UK]
Occidental tweaks $38 billion Anadarko bid: Occidental Petroleum Corp. (OXY) increased the cash component of its $38 billion bid to acquire Anadarko Petroleum Corp. (APC) on Sunday, removing a requirement for any deal to receive the approval of Occidental's shareholders. [Reuters]
AOC is 'likable' but doesn’t know who Adam Smith was, says Charlie Munger: Berkshire Hathaway (BRK-A, BRK-B) Vice Chairman Charlie Munger questions the competence of Queens Congresswoman Alexandria Ocasio-Cortez and Massachusetts Senator Elizabeth Warren.