US STOCKS-Futures slide amid geopolitical tensions, trade worries

(For a live blog on the U.S. stock market, click LIVE/ or
type LIVE/ in a news window.)
* Futures down: Dow 0.14%, S&P 0.13%, Nasdaq 0.23%

By Amy Caren Daniel
Aug 13 (Reuters) - U.S. stock index futures fell on Tuesday,
tracking a global shift out of riskier assets, as investors
grappled with simmering geopolitical tensions and fears of a
recession due to a drawn-out U.S.-China trade war.
Increasingly violent protests in Hong Kong and a crash in
Argentina's currency and its stock market pushed up demand for
U.S. bonds, gold and the Japanese yen. "Where markets head next will largely hinge on whether the
threatened tariffs are implemented, and how the Federal Reserve
responds," Mark Haefele, chief investment officer at UBS Global
Wealth Management, wrote in a note.
President Donald Trump's latest tariff threat on Chinese
goods has raised bets of at least three more rate cuts this
year, with a reduction in rates at the Fed's September meeting
being fully priced in, according to CME Group's FedWatch
program. MMT/
The U.S. central bank lowered key borrowing rates for the
first time in more than a decade in July and flagged risks from
the ongoing trade war on economic growth.
At 6:40 a.m. ET, Dow e-minis 1YMcv1 were down 36 points,
or 0.14%. S&P 500 e-minis EScv1 were down 3.75 points, or
0.13% and Nasdaq 100 e-minis NQcv1 were down 17.25 points, or
0.23%.
Industrial bellwethers Caterpillar Inc CAT.N and Boeing Co
BA.N slipped 0.5% and 0.3%, respectively, in premarket
trading.
Chipmakers, which depend on China for a large portion of
their revenue, were also under pressure. Micron Technology Inc
MU.O , Nvidia Corp NVDA.O and Advanced Micro Devices Inc
AMD.O fell between 0.3% and 1.25%.
FAANG group of stocks - Facebook Inc FB.O , Amazon.com Inc
AMZN.O , Apple AAPL.O , Netflix Inc NFLX.O and Google-parent
Alphabet Inc GOOGL.O - fell between 0.6% and 0.8%.
A survey showed German business sentiment plunged far more
than expected in August, hurt by trade disputes and higher
chances of a no-deal Brexit, painting a dismal picture of
Europe's biggest economy.
The Labor department's June consumer price index (CPI) data
will be closely watched as tame U.S. inflation remains a worry.
Economists polled by Reuters expect CPI to rise 0.3% in July,
compared with a gain of 0.1% in June.
In a bright spot, China's JD.com Inc JD.O rose 4.6% after
the e-commerce company beat estimates for quarterly revenue and
forecast third-quarter sales above expectations.