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Stock futures dive after Trump threatens China with tariffs hike

 New York Stock Exchange.
New York Stock Exchange. File photo: Drew Angerer/Getty Images

Stock futures plummeted Sunday evening, after President Trump said tariffs on $200 billion of China's goods would be raised to 25%, as trade talks between the 2 countries stalled.

By the numbers: Dow futures tumbled more than 400 points, while the S&P 500 futures also fell.

The big picture: China's considering canceling the trade talks, according to The Wall Street Journal. However, Michael O’Rourke, chief market strategist at JonesTrading in Greenwich, Connecticut told Reuters Trump could have made the comments as a negotiating tactic, so investors shouldn't panic just yet.

Go deeper: Grading the impact of Trump's China tariffs