US equity futures open lower in Sunday trade - here's why ICYMI

US emini equity futures (ES S&P 500 eminis, NQ NASDAQ 100 eminis for example) have opened on May 5 down (circa -1.3 to -1.5%, ES down around 40 points).

If you are just tuning in this is the relevant news:

• Pres. Trump: China tariffs will go up to 25% on $200B of goods on Friday
• ICYMI - US President Trump threatens higher tariffs on Chinese goods

• Trump was told by aides that significant hurdles remain to reaching trade deal with China

• Monday morning early spit ball - how will China react to Trump's tariff hike tweets?

Trump has Iran in the sights also:

• Trump to announce new Iran sanctions this week (report via Axios)

Gold up4USD or so as futures on the yellow stuff open also. ES futures on Globes down 1.6% now. All these moves pre-empted by the FX market where trade (albeit very thin liquidity trade) has been underway for a few hours already.