US STOCKS-Trump tariff threat hits Wall Street for second day

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* Trump vows to slap 10% tariff on $300 bln of Chinese
imports
* Global markets slide, bond yields slip
* Pinterest jumps on FY sales forecast raise
* NetApp tumbles after slashing forecast
* Futures fall: Dow 0.17%, S&P 0.27%, Nasdaq 0.53%

By Amy Caren Daniel
Aug 2 (Reuters) - U.S. stock index futures slid on Friday,
after an escalation in trade tensions with China renewed fears
of a global economic slowdown, ahead of a closely watched jobs
report.
President Donald Trump's threat to slap a 10% tariff on $300
billion of Chinese imports from next month, sent global markets
tumbling overnight and investors fleeing for perceived
safe-havens like U.S. Treasuries and the Japanese yen.
China on Friday said it would not be blackmailed and warned
of retaliation. "The negative mood across markets suggests that investors
are jittery," Lukman Otunuga, senior research analyst at FXTM,
said in a note, warning again on the potential impact on growth.
Industrial bellwethers Boeing Co BA.N and Caterpillar Inc
CAT.N fell 0.5% and 1%, respectively, in premarket trading.
Shares of tariff-sensitive Apple Inc slid 1.1%, while
chipmakers, which get a large portion of their revenue from
China, also took a hit.
The sudden escalation in the trade rhetoric comes days after
the Federal Reserve played down expectations of further
aggressive monetary policy actions after cutting interest rates
for the first time in a decade.
Hopes that the Fed would be more accommodative to counter
the impact of the bruising trade war had helped Wall Street's
main indexes hit record highs last month.
The Labor Department's jobs report, due at 8:30 a.m. ET,
will likely show U.S. job growth slowed in July after outsized
gains in the prior month, with wages maintaining their moderate
pace of increase. At 6:39 a.m. ET, Dow e-minis 1YMcv1 were down 44 points,
or 0.17%. S&P 500 e-minis EScv1 were down 8 points, or 0.27%
and Nasdaq 100 e-minis NQcv1 were down 41.5 points, or 0.53%.
Semiconductor stocks Micron Technology MU.O , Nvidia Corp
NVDA.O , Applied Materials Inc AMAT.O and Intel Corp INTC.O
fell between 1% and 3%.
The second-quarter earnings season is in full swing, with
74.4% of the 355 S&P 500 companies that have reported so far
beating profit estimates, according to Refinitiv data.
Analysts now see S&P 500 earnings growth of 2.5%, up from
0.3% a month ago, according to Refinitiv data.
NetApp Inc NTAP.O slumped 18.8% after the data storage
equipment maker lowered its forecast for the first quarter and
2020, blaming a weakening macro environment in the latter half
of the quarter.
Pinterest Inc PINS.N jumped 17.1% after the online
scrapbook company raised its full-year sales forecast and
reported second-quarter revenue above Wall Street estimates.