10 things you need to know before the opening bell

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10 Things Before the Opening Bell

Here's what you need to know before markets open.

1. Global stocks plunge as investors weigh report on US considering new tariffs on the EU and UK. Washington's new threat is "not the kind of thing investors want to hear as they fret over the threat of a covid-19 second wave," an analyst said.

2. The US could slam tariffs on $3.1 billion of European goods, with products like olives, beer, gin, and planes on the list. A Tuesday notice by the US Trade Representative said it may levy tariffs on products such as airplanes, yoghurt, beer, to name a few.

3. 'It's not healthy to have people buying stocks for fun': Billionaire investor Howard Marks warns the day-trading boom reminds him of the dot-com bubble. "If stocks are being held by people who believe that they only go up, I think that bodes ill," the Oaktree Capital boss said.

4. 'In a COVID era everything unfolds at warp speed': Yale economist Roach warns the dollar could dive 35% against rival currencies. Stephen Roach said in an interview with MarketWatch: "I do think it's something that happens sooner rather than later."

5. 'Their money couldn't buy a movement': Alexandria Ocasio-Cortez taunts Wall Street after triumphing over her billionaire-backed primary opponent. "There is no price tag for having people who are animated by the courage of their convictions and by a desire for a better world."

6. Brazil's central bank killed WhatsApp's new payment system a week after it launched. A source familiar with the matter told Bloomberg the central bank's announcement took WhatsApp by surprise.

7. Toyota holds $293 million stake in Uber, governance report shows. The automaker said it reduced its shareholdings in 24 companies and increased them in 10.

8. Singapore telecoms operators select Nokia, Ericsson to build 5G networks. The companies said they were also exploring other network parts with China's Huawei and ZTE.

9. Global stocks are mostly down. In Europe, Germany's DAX fell 1.8%, Britain's FTSE 100 fell 2%, and the Euro Stoxx 50 fell 1.6%. In Asia, China's Shanghai Composite rose 0.3%, Hong Kong's Hang Seng fell 0.5%, and Japan's Nikkei fell 0.1% at the close. In the US, futures underlying the Dow Jones Industrial Average, the S&P 500, and the Nasdaq fell between 0.3 and 0.8%.

10. On the economic front. The Energy Information Administration's Crude Oil Stocks Change and a speech from Federal Reserve FOMC member James Bullard are due.