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|06 December, 2018

LIVE MARKETS U.S.-Futures slammed ahead of the US open

With the popping to a 5-week high, Futures are pointing to sharp losses for the major averages at the open.

Welcome to the home for real-time coverage of U.S. equity markets brought to you by Reuters stocks reporters and anchored today by Terence Gabriel. Reach him on Messenger to share your thoughts on market moves: terence.gabriel.tr.com@reuters.net

FUTURES SLAMMED AHEAD OF THE OPEN (0808 EST/1308 GMT)

With the popping to a 5-week high, Futures are pointing to sharp losses for the major averages at the open.

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This as the arrest of a top executive of Chinese tech giant Huawei HWT.UL for extradition to the United States sparked concerns for increased U.S.-China trade tensions. A slide in oil prices is adding to the pressure. 

Indeed, stocks are suffering globally. Asia closed down overnight with Japan, China and Hong Kong all losing around 2 percent or more. European indexes are also showing broad losses with Germany and the UK also off more than 2 percent.

NYMEX Crude Futures are down more than 3 percent, but have not yet violated their late November trough. Nevertheless, OPEC oil cuts are at risk with Russia yet to commit. 

Here is your premarket snapshot:

(Terence Gabriel)