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Aug 10, 2018

Before The Bell I Political concerns keep investors on edge I CNBC News


Alexandra Gibbs






U.S. stock index futures fell deep into the red ahead of Friday's open, following negative sentiment in markets overseas.
Around 5:35 a.m. ET, Dow futures dropped 93 points, indicating a negative open of -93.23 points, with the S&P 500 and Nasdaq futures also pointing to a downbeat start to the day.
Traders and financial professionals work ahead of the closing bell on the floor of the New York Stock Exchange (NYSE), June 25, 2018 in New York City.  Drew Angerer | Getty Images
Traders and financial professionals work ahead of the closing bell on the floor of the New York Stock Exchange (NYSE), June 25, 2018 in New York City. 
During yesterday's trade, the Nasdaq Composite scored its longest winning streak in close to a year, boosted by positive trade out of tech stocks including Amazon and Apple.
On Friday, however, red is striking markets across the board, as political woes and trade fears send jitters across global markets.
In politics, the U.S. remains embroiled in a trade dispute with China and on Wednesday announced that it planned to inflict sanctions on Russia over its alleged chemical poisoning of an ex-spy in England earlier this year.
Russia's Prime Minister Dmitry Medvedev warned the States on Friday that enacting these sanctions could be treated as a declaration of economic war, according to Reuters. Consequently, investors have been keeping a close eye on the Russian ruble.
Likewise, investors continue to monitor trade tensions between Washington and Beijing. This week both governments announced the possibility of imposing tit-for-tat tariffs on an additional $16 billion worth of goods.
In economic data, consumer price index (CPI) figures are due out at 8:30 a.m. ET, followed by the Monthly Treasury Statement at 2 p.m. ET.
No earnings are scheduled to come out Friday.