The announcement shocked markets on Thursday, producing a 600-point swing for the Dow. US stock futures point to more pain when Wall Street opens on Friday. Global stocks have joined the sell-off. Japan’s Nikkei declined 2.1%. The Shanghai Composite dropped 1.4%, while Hong Kong’s Hang Seng shed 2.4%. Suppliers of the Chinese tech company Huawei, which has been caught up in the trade war, were hit particularly hard. Some suppliers listed in Hong Kong suffered losses of up to 8%. In Europe, Germany’s DAX and France’s CAC 40 both dropped 2.2% at the open. London’s FTSE 100 was down 1.5%. The Swiss franc, a traditional safe haven, strengthened 0.4% against the US dollar. Crude oil began to recoup some of the heavy losses

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