S&P 500 futures are down below 3,250 in the European session, off from a daily high of 3,275. The move is attributed to worsening Sino-American relations. After workers at the Chinese consulate in Houston were reportedly burning documents in the courtyard overnight, Beijing confirmed it will close it.
Hu Xijin, editor-in-chief of the Global Times, said that Washington demanded it to happen within 72 hours and commented it is a “crazy move.”
Another factor weighing on sentiment is a report that the People’s Bank of China is set to pause its easing measures. The world’s second-largest economy has been recovering from the coronavirus crisis.
Here is the S&P 500 futures chart:
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