S+P 500 rebound proves all too short-lived- check the futures price this morning

The noted rebound in the S+P 500 looked pretty solid for a good deal of the session yesterday. That had seen the index rise to above 5,250 once again, pretty much matching the rebound seen the day before, when it spiked above that level on the fake news report covered here at the time. Well, the index peaked yesterday at 5,267.47 after it had opened earlier at 5,193.57. However, once the US president announced another, punitive 50% tariff on China yesterday evening, the index plummeted again. That saw it slide to 4,910.42 and it later closed 79.48 points lower, at 4,982.77. Since that US close the index futures have fallen further and at one point they were pricing the opening for today perilously close to the lows seen on Monday, at 4,835. The opening was priced as low at 4,845. That has improved somewhat just ahead of the European opening, but at this stage, not materially so in real terms. Downside risks are clearly very much to the fore right now. The S+P 500 is currently priced to reopen around 4,915