Market Snapshot: Dow futures drop as tensions intensify over Pelosi’s planned Taiwan visit

by | Aug 2, 2022 | Stock Market

U.S. stock-index futures pointed to a lower start Tuesday, with analysts blaming rising tensions between the U.S. and China as House Speaker Nancy Pelosi prepared to visit Taiwan.What’s happening
Futures on the Dow Jones Industrial Average
fell 187 points, or 0.6%, to 32,580.

S&P 500 futures
dropped 25.50 points, or 0.6%, to 4,095.

Nasdaq-100 futures
declined 99 points, or 0.7%, to 12,863.50.

Stocks ended a seesaw session slightly lower on Monday, with the Dow
falling less than 50 points, or 0.1%, while the S&P 500
lost 0.3% and the Nasdaq Composite
ticked down 0.2%.

What’s driving the market Global equity markets fell as local news reports said Pelosi was set to arrive in Taiwan Tuesday night local time. Beijing, which sees Taiwan as part of its territory, has threatened “serious consequences” if Pelosi’s visit goes ahead as planned. “The events schedule is dominated by one question: will U.S. House Speaker Pelosi arrive in Taiwan today as has been flagged, and how will China respond?” wrote Marc Ostwald, chief economist and global strategist at ADM Investor Services International, in a note. Pelosi would be the highest-ranking elected U.S. official to visit the island in 25 years and com …

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