India, July 11 -- The major U.S. index futures are currently pointing to a lower open for the markets on Friday, with stocks likely to give back ground after moving mostly higher over the two previous sessions.
The downward momentum on Wall Street comes amid renewed concerns about President Donald Trump's escalating trade battles.
In a letter to Canadian Prime Minister Mark Carney posted on Truth Social, Trump announced a 35 percent tariff on Canadian imports effective August 1st.
Trump said the tariffs were partly due to Canada's failure to stop fentanyl from "pouring" into the U.S. and threatened to raise tariffs further if Canada retaliates.
"If Canada works with me to stop the flow of Fentanyl, we will, perhaps, consider an adjustme...