December S&P 500 E-Mini futures (ESZ25) are down -1.18%, and December Nasdaq 100 E-Mini futures (NQZ25) are down -1.65% this morning as sentiment weakened after China hit back at the U.S. on shipping.
China on Tuesday imposed sanctions on the U.S. units of South Korean shipping giant Hanwha Ocean and warned of additional retaliatory measures against the industry. Organizations and individuals in China are prohibited from conducting any transactions, cooperation, or related activities with these entities, according to a statement from the Chinese Ministry of Commerce. The move rekindled fears that the U.S.-China trade war could flare up again.
