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* Futures down: Dow 0.78%, S&P 0.73%, Nasdaq 0.82%
By Uday Sampath Kumar
Sept 3 (Reuters) - U.S. stock index futures fell on Tuesday,
as Washington's new round of tariffs on some Chinese goods
kicked in and after a report that officials from both sides were
struggling to decide on the schedule for a meeting this month.
Shares of trade-sensitive industrial bellwethers Caterpillar (NYSE:CAT)
Inc CAT.N and Boeing (NYSE:BA) Co BA.N fell 1.5% each in premarket
trading, while those of Apple Inc AAPL.O fell 1%.
A monthly survey on manufacturing activity by the Institute
for Supply Management, due at 10 a.m. ET, is expected to shed
some light on the impact of the trade war on the U.S. industrial
sector.
The S&P 500 index fell 1.8% in August, its biggest monthly
drop since May, after escalating U.S.-China trade tensions and
the inversion of a key part of the U.S. yield curve, seen as a
recessionary signal, drove investors toward safe-haven assets.
The benchmark index, however, ended the week up nearly 3% as
trade tensions were dialed down following signals that Beijing
and Washington would meet in September for talks.
Bloomberg, however, reported on Monday that the two sides
were yet to agree on a date for the planned meeting.
The Trump administration on Sunday began collecting 15%
tariffs on more than $125 billion in Chinese imports, while
China began imposing new duties on U.S. crude. Chipmakers, which draw a large portion of their revenue from
China, also fell, with Intel Corp INTC.O , Advanced Micro
Devices AMD.O and Micron Technology Inc MU.O off between
1.4% and 2%.
At 7:27 a.m. ET, Dow e-minis 1YMcv1 were down 207 points,
or 0.78%. S&P 500 e-minis EScv1 were down 21.25 points, or
0.73% and Nasdaq 100 e-minis NQcv1 were down 63.25 points, or
0.82%.
Along with the manufacturing data, investors will also keep
a close watch on the monthly jobs report due Friday for clues on
the health of the U.S. economy.
Also on Friday, Federal Reserve Chair Jerome Powell will
speak at an event hosted by the Swiss Institute of International
Studies, University of Zurich.