Stocks to Crumble on Trade Worries

U.S. stock index futures were lower Friday, with market participants increasingly worried about a broadening global economic slowdown.

Futures for the Dow Jones Industrial Average lost 135 points, or 0.5%, at 24,996.

Futures for the S&P 500 dipped 13.5 points, or 0.5%, to 2,690.50

NASDAQ futures slumped 52 points, or 0.8%, to 6,853.50

Market focus on Friday continued to be attuned to global trade developments, after President Donald Trump said he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline to reach a deal.

Trump's stance rattled investors hoping for a positive resolution to a long-running trade dispute between the world's two largest economies.
While Trump and Xi are still expected to meet eventually, there's too much work to do to flesh out a deal with China and prepare Trump for a high-stakes meeting with North Korea's Kim Jong Un. Trump's summit with Kim is set for February 27-28.

Overseas, in Japan, the Nikkei 225 plummeted 2% Friday, while in Hong Kong, the Hang Seng returned from a long holiday to fall 0.2%.

Oil prices retreated 15 cents to $52.49 U.S. a barrel.

Gold prices gained $3.50 to $1,317.70 U.S. an ounce.