U.S. futures and stock markets in Asia dropped, oil prices fell and the Chinese yuan weakened as trade tensions between China and the U.S. escalated. The Shanghai Composite Index fell 4.7% in early trading on Monday during Asian hours, putting it on course for its biggest single-day decline since October. S&P 500 futures declined about 2%. In Japan, the yen—a haven for investors during times of turmoil—strengthened against the dollar.

Source: Wall Street Journal May 06, 2019 02:15 UTC