U.S. stock markets were set to open lower on Monday, with Apple and chipmakers bearing the brunt of expectations President Trump will make good on threats to set new tariffs on $200 billion of Chinese goods, and that Beijing will retaliate.

A senior administration official told Reuters over the weekend that Trump was likely to announce the new tariffs as early as Monday while a widely read Chinese tabloid warned China would not be content to only play defense.

Futures pointed to slight falls on all three major U.S. markets at opening, with the tech-heavy Nasdaq the bigger loser.

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