Belpointe Chief Market Strategist David Nelson discusses President Trump’s relations with China and dipping stocks.
U.S. stock futures are pointing to a lower open on Wednesday when trading begins.after Democrats in the House of Representatives announced an impeachment probe of President Trump.
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The announcement by Nancy Pelosi, speaker of the House, about an inquiry came after markets closed in New York. But news the Democrats were considering a probe broke earlier.
Dow Industrial futures are down 0.2 percent, S&P 500 futures are also off by 0.2 percent and Nasdaq futures fell 0.4 percent.
Stocks recovered somewhat in the Tuesday session after Trump said he plans to release the full transcript of a July phone call with Ukraine's president that is at the center of the impeachment discussions.
The S&P 500 index fell 0.8 percent, The benchmark index remains within 2 percent of its all-time high set in late July.
The Dow slid 0.5 percent and the Nasdaq lost 1.5 percent.
Trump dampened optimism over prospects for a trade deal with China that might help resolve the tariffs war with Beijing in remarks before the U.N. General Assembly, where he underscored the need for a fair trade pact and threatened more tariffs.
Tensions had recently eased somewhat, prompting speculation that the next round of negotiations, in October, might at least yield an interim deal on trade.
A trade deal however with Japan is apparently on track.
In Asia, Japan's Nikkei ended the day losing 0.4 percent, China's Shanghai Composite finished the session off 1 percent and Hong Kong's Hang Seng closed down 1.4 percent.
In Europe, London's FTSE was lower by 1 percent, Germany's DAX dropped 1.1 percent and France's CAC fell 1.5 percent.
The Associated Press contributed to this article.