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U.S. stock futures dropped Monday as Wall Street comes off a winning week, with the S&P 500 logging its longest positive streak in two decades.
Futures for the Dow Jones Industrials lost 279 points, or 0.7% to 41,148.
Futures for the S&P 500 index dipped 51 points, or 0.9%, to 5,658.
Futures for the NASDAQ fell 221.5 points, or 1.1%, to 19,973.75.
Shares of Walt Disney and Netflix — all companies that film abroad — traded 2.5% and 5% lower in early morning trading, respectively. Warner Bros Discovery also shed more than 2%.
Trump also told reporters on Sunday that “we’re negotiating with many countries, but at the end of this, I’ll set my own deals — because I set the deal, they don’t set the deal.”
He added that has no current plans to speak with Chinese President Xi Jinping, dashing investors’ hopes that progress is being made to ease U.S.-China trade tensions.
Fed funds futures trading points to just a 3.2% chance of a rate cut. Still, traders are keeping a close eye on any commentary from the central bank or Fed Chair Jerome Powell on the outlook for the economy amid heightened uncertainty stemming from the trade war.
Markets in Japan and Hong Kong were closed Monday for holiday.
Oil prices sank 93 cents to $57.30 U.S. a barrel.
Gold prices captured $78.70 to $3,322 U.S. an ounce.