March 23, 2018 / 3:17 AM / a year ago

BUZZ-India's NSE stock futures hit 5-1/2-month low on U.S.-China trade war fears

** India’s NSE Stock Futures listed on the Singapore Exchange drop as much as 1.4 pct to their lowest since Oct 11, 2017, indicating losses for the Indian stock markets

** Global stock markets slid as investors rushed to safe havens such as govt bonds after U.S. President Donald Trump signed a memorandum that could impose tariffs on up to $60 bln of imports from China, although the measures have a 30-day consultation period

** Investors fear that the U.S. measures could escalate into a trade war, with potentially dire consequences for global economy

** In retaliation against U.S. tariffs on Chinese steel and aluminium products, China unveiled plans to impose tariffs on up to $3 bln of U.S. imports

** MSCI’s broadest index of Asia-Pacific shares outside Japan down 2.1 pct, as of 0303 GMT, while S&P 500 e-mini futures slip 0.62 pct

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