The Senate passed legislation that could bar Chinese companies from publicly listing in the U.S.
Dow Jones Industrial Average (DJI) futures are down this morning, almost 100 points below breakeven. This fall comes on the heels of news that weekly jobless claims rose by 2.44 million -- just a hair above the 2.40 million estimates -- for what marks now 10 straight weeks of declines. Futures on the S&P 500 Index (SPX) and Nasdaq-100 Index (NDX) are also short of fair market value, as U.S.-China tensions continue to bubble, after the Senate passed oversight legislation that would bar Chinese companies from listing on U.S. stock exchanges.
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Stocks in Asia were mostly lower today, as investors kept an eye on the global easing of lockdowns, while the World Health Organization (WHO) announced that the number of new cases globally hit a daily record this week. Today's only winner, the Kospi in South Korea, finished up 0.4%. Meanwhile, the Nikkei in Japan closed with a 0.2% loss amid reports of Japan's trade data for April plunging 21.9% in comparison to last year, while Hong Kong's Hang Seng and China's Shanghai Composite lost 0.5% and 0.6%, respectively.
In Europe, markets are also down at midday, as bourses weigh the WHO's statement as well as the euro zone purchasing managers index (PMI) - which showed another drop in activity for the region's manufacturing and services industry for May - albeit one that was lower-than-expected. London's FTSE 100 is down 0.5%, the French CAC 40 has fallen 0.8%, and the German DAX is bringing up the rear so far, off by 1.1%.