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US Stocks Sink On Bad News About "Empty Promises" Of China

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Dow futures point to a 400-point drop to start the new year

Futures also fell after The New York Times reported that U.S. Trade Representative Robert Lighthizer has told friends and associates he wants to prevent President Donald Trump from accepting "empty promises" from China on the trade front. The report also says Lighthizer has warned Trump that additional tariffs may be needed to get meaningful concessions from the Chinese. The two countries are currently negotiating a trade deal
via 

 U.S. stock index futures fell sharply on Wednesday, the first trading day of the new year, as disappointing economic data from China hampered global risk appetite.

At around 8:20 a.m. ET on Wednesday, Dow Jones Industrial Average futures pointed to a drop of 401.46 points at the open. Futures on the S&P 500 and Nasdaq 100 also pointed to a weak open.

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