U.S. Stock Markets Slip Amid Trade Tensions and Bank Earnings

Wall Street indexes fell as U.S.-China trade tensions reignited, despite strong earnings from banks like Citigroup and Wells Fargo. Investors are focused on potential tariffs and Federal Reserve Chair Jerome Powell's speech for insights into economic policies amid continuing market volatility.

Wall Street's major indexes are set to open lower as rekindled U.S.-China trade tensions weigh on market sentiment. Investors are closely watching the third-quarter earnings report from major U.S. banks, including Citigroup and Wells Fargo, which have beaten profit expectations notwithstanding overall market dips.

Key stock market indicators, like the Dow, S&P 500, and Nasdaq, showed premarket declines as concerns over new tariffs further pressured investor sentiment. Leaders in the financial sector provided stronger-than-expected results, yet many stock prices continued to hover near record highs.

The focus remains on U.S. trade policy developments and Federal Reserve Chair Jerome Powell's upcoming speech for guidance on monetary strategy as global economic indicators remain stalled due to governmental delays.

(With inputs from agencies.)