U.S. stock futures pointed to a weaker open on Monday, as investors appeared unsettled by signs of further political instability in Italy after elections and on lingering trade-war fears. Dow futures stumbled 113 points, or 0.5%, to 24,423, while S&P 500 futures dropped 16.2 points, or 0.6%, to 2,674.25. Nasdaq 100 futures slid 37.25 points, or 0.6%, to 6,768. Major indexes posted hefty weekly losses, with the Dow industrials tumbling 391 points at one stage on Friday before paring that loss to 70.92 points. That weakness came after President Donald Trump, in a surprise move, on Thursday announced tariffs on steel and aluminum imports, ramping up rhetoric around a potential trade war. Meanwhile, investors were looking at results of Sunday’s Italian elections, with no clear winner emerging thus far. That could mean a prolonged period of political uncertainty in one of the eurozone’s biggest economies. The euro was weaker against major rivals. Asian markets were mostly lower, led by a 1.4% drop for Hong Kong’s Hang Seng Index . Gold prices rose modestly, while oil prices were largely flat.
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From:: Stock Market News