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Takeaways from the Key Takeaways
- Global stocks are largely lower Monday, with the dollar extending its declines, weighed on by Beijing's threat of retaliation against countries that strike trade deals to isolate China.
- U.S. Stock Futures are pointing down on the first trading session since Thursday when major stock indices ended the holiday-shortened weekend in the red.
- The Stoxx Europe 600 index and Hong Kong’s Hang Seng Index are closed for Easter Monday while Japan's Nikkei 225 ended lower.
Global stocks are largely lower Monday, with the dollar extending its declines, weighed on by Beijing's threat of retaliation against countries that strike trade deals to isolate China.
Beijing said on Monday that it would retaliate if other countries cooperated with the U.S. to harm China’s interests in trade deals.
"It should be pointed out in particular that China firmly opposes any party reaching a deal at the expense of China's interests," a Chinese commerce ministry spokesperson said. "If this happens, China will never accept it and will resolutely take countermeasures in a reciprocal manner. China is determined and capable of safeguarding its own rights and interests."
That follows a post by President Donald Trump on his Truth Social platform Sunday outlining a list of eight so-called "non-tariff cheating" measures, including currency manipulation and value-added taxes.
U.S. stock-futures are pointing down on the first trading session since indexes finished mixed Thursday, closing a holiday-shortened weekend. Dow Jones Industrial Average futures are 0.9% lower, S&P 500 futures are down 1.1%, and Nasdaq futures are 1.2% lower.
Easter Monday is a closed day for the Stoxx Europe 600 Index, as well as Hong Kong’s Hang Seng Index. Japan's Nikkei ended down 1.3%.
The dollar fell further and the 10-year Treasury yield rose to 4.36%. Gold prices are rising to over $3,400 and shares of miners such as Newmont (NEM), in premarket trading, are also rising.
