Before the bell: S&P futures -1.49%, NASDAQ futures -2.06%
U.S. stock-index futures declined sharply on Monday as a trade war between the world’s largest economies intensified after China weakened its currency to its lowest level since 2008 in response to the U.S. President Trump's threat to impose new 10% tariff on $300 billion worth of Chinese imports. In addition, Beijing asked state companies to discontinue purchasing U.S. agricultural products.
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