Wall Street opens lower on US-China trade row

US stock indices opened the first session of the week lower on renewed fears over a possible US-China trade war after the Chinese government confirmed imposing new tariffs on $50 billion of US products in response to similar tariffs by President Trump. 

China imposed 25% tariffs on 659 US products, including cars and agricultural items, while imposing additional taxes on 545 products worth $34 billion starting July 6.  

Last weekend, President Trump imposed 25% tariffs on Chinese imports worth $50 billion, accusing China anew of violating intellectual property rights and promising additional tariffs if China retaliated. 

Otherwise, the US NAHB Housing Market Index inched down to 68 in June from 70 in May, as analysts now await Federal Reserve Bank of Atlanta President Raphael Bostic's speech about the economic outlook and monetary policy at the Rotary Club of Savannah.

Federal Reserve Bank of San Francisco President John Williams is due to deliver closing remarks at a conference on banking culture, hosted by the Federal Reserve Bank of New York, after the Federal Open Market Committee voted this week to raise interest rates by 25 basis points to below 2.00%. 

Now markets await the European Central Bank forum on central banking later today, with high-profile officials participating from around the globe, such as ECB President Draghi, Fed Chair Jerome Powell, Bank of Japan governor Haruhiko Kuroda. 

As of 02:19 GMT, Standard and Poor's 500 fell 0.60%, or 16.73 points to 2,762.93, while Dow Jones shed 0.92%, or 231.14 points to 24,859.33. 

Tech-heavy NASDAQ dipped 0.47%, or 36.23 points to 7,710.15.