Futures fall on U.S. plan to cut Huawei off from global chip suppliers

[May 15, 2020]    (Reuters) - U.S. stock index futures turned lower on Friday as the Trump administration moved to block shipments of semiconductors to China's Huawei Technologies from global chipmakers, an action that could ramp up trade tensions between Washington and Beijing.

The New York Stock Exchange (NYSE) is seen in the financial district of lower Manhattan during the outbreak of the coronavirus disease (COVID-19) in New York City, U.S., April 26, 2020. REUTERS/Jeenah Moon

Chipmakers Qualcomm Inc, Micron Technology Inc and Texas Instruments Inc fell between 2.7% and 3.1% premarket.

At 7:18 a.m. ET, Dow e-minis were down 162 points, or 0.69%. S&P 500 e-minis were down 19.5 points, or 0.68% and Nasdaq 100 e-minis were down 60.5 points, or 0.67%.

(Reporting by Medha Singh and Ambar Warrick in Bengaluru; Editing by Shounak Dasgupta)

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