US stock futures in retreat amid Trump shutdown, Nafta threats

FT/Pan Kwan Yuk/08-23-17

US stocks are set to break their two day winning streak on Wednesday, with futures pointing to a lower opening after President Trump injected fresh uncertainty into the markets by threatening to shut down the government and pull out of the North American Free Trade Agreement.

…The moves come after President Trump lashed out at the media and his critics at a rally in Phoenix, Arizona last night, saying he would shut down the government if Congress did not pay for his proposed border wall. He also revived threats to end Nafta just days after officials from the US, Canada and Mexico began the laborious process of renegotiating the deal.

The comments quickly dashed hopes that Washington will return to business as normal following a couple of tumultuous weeks that were marked by escalating US and North Korea tensions, outrage over Mr Trump’s response to the violence in Charlottesville, the departure of top US CEOs from the president’s advisory groups and the ousting of chief White House strategist Stephen Bannon.

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