Futures dip on reports U.S. to target another Chinese firm
- U.S. stocks were on track to open lower on Wednesday, as fears resurfaced of a possible escalation in the trade war between the United States and China following reports that Washington could impose sanctions on another Chinese company.
However, sentiment soured on reports of similar restrictions on Chinese video surveillance firm Hikvision. Markets also waited for minutes from the Federal Reserve’s two-day policy meeting in late April when it held interest rates steady. The minutes are due at 2 p.m. ET . Among stocks, Qualcomm Inc slumped 12.2% premarket after a federal judge ruled that the chipmaker unlawfully suppressed competition in the market for cellphone chips and used its dominant position to exact excessive licensing fees.
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