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US STOCKS-Wall St set to open lower after China's tough talk on trade


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* Pinterest plummets after 2019 revenue forecast disappoints

* Trade war will only make us stronger - China newspaper

* Futures down: Dow 0.82%, S&P 0.79%, Nasdaq 1.05% (Adds comment, updates prices)

By Amy Caren Daniel

May 17 (Reuters) - Wall Street was set to break a three-daywinning streak on Friday, as trade worries returned afterChinese media took a hard stance on the tariff dispute betweenthe United States and China.

The trade war will only make China stronger and will neverbring the country to its knees, the ruling Communist Party'sPeople's Daily wrote in a front-page commentary. urn:newsml:reuters.com:*:nL4N22T0MJ

Beijing's higher tariffs on U.S. products on a $60 billiontarget list will take effect on June 1, which could promptWashington to go ahead with tariffs on a further $300 billionworth of Chinese goods. urn:newsml:reuters.com:*:nL2N22P0A6

The two sides are expected to meet in China to resume talkssoon.

"Mounting trade worries and geopolitical tensions areweighing on investors nerves," said Peter Cardillo, chief marketeconomist at Spartan Capital Securities in New York.

"The trade war tensions are overcoming the positive inmarkets so investors are skeptical and markets are caught in atrading range."

Boeing CoBA.N , the single largest U.S. exporter to Chinaslipped 0.7% in premarket trading and Caterpillar fell 1.7%.

Technology companies including iPhone maker Apple IncAAPL.O and chipmakers, which rely on China for a large portionof their revenue, were also hit by trade fears.

Apple IncAAPL.O fell nearly 2% also weighed down byNomura Instinet's price target cut on its stock, citingheadwinds from the tariff war.

The escalating tensions between the world's two largesteconomies also led farm equipment maker Deere & CoDE.N to cutits full-year forecast. Its shares declined 4%.

All three major indexes have posted gains three days in arow this week as upbeat quarterly results and a batch of strongeconomic data helped ease worries of a global economic slowdown.

The S&P 500 index .SPX is now about 2% away from itsrecord high hit earlier this month.

At 8:11 a.m. ET, Dow e-minis 1YMc1 were down 213 points,or 0.82%. S&P 500 e-minis ESc1 were down 22.75 points, or0.79% and Nasdaq 100 e-minis NQc1 were down 79.75 points, or1.05%.

Shares of Micron Technology IncMU.O , Broadcom IncAVGO.O and Intel CorpINTC.O fell between 1% and 2%.

Applied Materials IncAMAT.O gained 4.1% after the chipgear maker's upbeat third-quarter profit eased concerns aboutwaning chip demand. urn:newsml:reuters.com:*:nL4N22S4BW

Online scrapbook company Pinterest IncPINS.N slumped16.1% after the recent Wall Street debutant forecast 2019revenue broadly in line with Wall Street targets. urn:newsml:reuters.com:*:nL4N22S4C1

Under Armour IncUAA.N rose 3.4% after JP Morgan upgradedthe sports wear maker to "overweight" from "neutral".

Also on investors watch is the debut of Luckin Coffee IncLK.O , the Chinese challenger to Starbucks CorpSBUX.O . urn:newsml:reuters.com:*:nL2N22S222 (Reporting by Amy Caren Daniel and Sruthi Shankar in Bengaluru;Editing by Shounak Dasgupta) ((Amy.CarenDaniel@thomsonreuters.com ; within U.S.+1-646-223-8780; outside U.S. +91 80 6749 9250 ; ReutersMessaging: Amy.CarenDaniel.thomsonreuters.com@reuters.net;))






This article appears in: Stocks , World Markets , Politics
Referenced Symbols: AAPL ,



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