S&P 500 Futures: Flash red as China says responsibility of the situation rests entirely with US

Dhwani Mehta FXStreet

China’s Foreign Ministry, after ordering the US to close its consulate in Chengdu earlier this Friday, blamed the US for the worsening situation between the two countries.

Key quotes

“The responsibility of the situation rests entirely with the US.”

“Current situation is something China does not want to see.”

“Urges the US to revoke its 'wrong' decision.”

“Calls for the US to create necessary conditions for the return of bilateral relations.”

China retaliated after the US closed its Houston consulate on Tuesday, to “protect Americans’ intellectual property and private information”.

S&P 500 Futures keep the red

S&P 500 futures consolidate the drop to 3,212 lows, with the further downside still in play, as the risk sentiment remains sour amid the Sino-US escalation.

AUD/USD shaved-off gains and now sheds 0.25% to trade at 0.7080 while USD/JPY drops 0.38% to trade near monthly lows of 106.36.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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