US stocks futures tumble on Trump trade threat on China

NEW YORK, May 6 (AFP): Wall Street stocks sank early Monday, joining most global bourses in tumbling as US President Donald Trump threatened new tariff measures on China.

About 25 minutes into trading, the Dow Jones Industrial Average stood at 26,182.21, down 1.2 percent.

The broad-based S&P 500 also shed 1.2 percent, sinking to 2,911.44 while the tech-rich Nasdaq Composite Index dropped 1.4 percent to 8,050.89.

Trump on Sunday vowed to raise tariffs to 25 percent from 10 percent on $200 billion in Chinese merchandise, expressing frustration at the pace of US-China negotiations and throwing into doubt the chances of success in a long-discussed trade deal.

"The Trade Deal with China continues but too slowly, as they attempt to renegotiate. No!" Trump tweeted Sunday.

Trump also renewed a threat to impose tariffs on all Chinese imports to the US -- worth $539.5 billion last year.