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· U.S. stock index futures were sharply lower Tuesday morning, after the world’s two largest economies began imposing new tariffs on one another’s goods.

At around 03:20 a.m. ET, Dow futures fell 234 points, indicating a negative open of more than 235 points. Futures on the S&P and Nasdaq were both lower. The moves in pre-market trade come after investors observed a market holiday on Monday.

· The S&P 500 has gapped lower to kick off the trading session on Monday as the United States and China both have slapped more tariffs on each other. By doing so, it has throne even more uncertainty into the markets, with perhaps the exception of knowing that things are about to get worse, not better. This will weigh upon the S&P 500 when larger traders come back to work, but at this point it’s obvious that we have some work to do.

One thing is for sure though, it seems as if there are a lot more negative headlines out there than positive, so I favor shorting exhaustive candles above.

If we do fall from here and find plenty of support near the 2850 level, then I could be convinced to start buying but at this point I also recognize that it’s difficult to imagine a scenario where you can jump “all in” in this market.

· European shares fell for the first time in four sessions on Tuesday, as uncertainty over Britain’s chaotic exit from the European Union and continuing trade tensions between the United States and China weighed on sentiment.

The pan-European STOXX 600 index , however, was down 0.26% by0715 GMT.