Dow futures fall more than 150 points after new US-China trade tariffs take effect
- At around 02:00 a.m. ET, Dow futures fell 169 points, indicating a negative open of more than 170 points.
- Futures on the S&P and Nasdaq were both lower.
- The moves in pre-market trade come after investors observed a market holiday on Monday.
On the data front, manufacturing PMI (Purchasing Managers’ Index) figures for August will be released at around 16:45 a.m. ET. The Institute for Supply Management’s (ISM) manufacturing index for August and construction spending data for July will be released slightly later in the session.
E-mini Dow Jones Industrial Average (YM) Futures Technical Analysis – September 3, 2019 Forecast
A sustained move under 26215 will signal the presence of sellers. The first downside target is the main 50% level at 26012. Since the main trend is up, buyers could come in on the first test of this level. If it fails then look for the selling to possibly extend into the steep uptrending Gann angle at 25906. This angle has to hold or we could see a steep break into the main Fibonacci level at 25685.
GBP/USD crashes to lowest since 2016 ahead of crucial Brexit showdown
GBP/USD plunged 1.2000, hitting the lowest since 2016 as a critical day in parliament begins. The opposition will try to force the government to only leave the EU with a deal.
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