U.S. stock index futures dropped on Friday, as the long-feared hit to global gro...
- U.S. stock index futures dropped on Friday, as the long-feared hit to global growth from President Trump’s trade war crystallized in slashed sales forecasts from chipmaker Broadcom, and signs of the worst slowdown in Chinese industry in 17 years.
Data from China showed industrial output growth in the world’s second largest economy slowed to a more than 17-year low in May, sending a chill through stock market investors globally. The Broadcom news was one of the clearest indications yet from the trade-sensitive tech sector of the scale of pain companies can expect from Washington’s stand-off with China.
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