richard quest, thank you so much for that. let s get a check on cnn business this monday morning. global stock markets are done after beijing says it will not back down in the trade war with the u.s. china squarely blames the u.s. for the break down in talks. on wall street you have futures leading lower again this morning, a triple digit decline for the dow on deck. the dow fell 355 points on friday on president trump s threat to punish mexico with tariffs. it was the dow s 6th straight losing streak, the longest since june 2011. the s&p lost 1.3%. the nasdaq fell 1.5%. the dow and the s&p 500 down 6% each in may. that is the worst month since december s awful route. the nasdaq in may fell a terrible 7%. it s worst may since 2010. despite rising trade war tensions, stocks are about 21% higher since trump s inauguration day, well off the best gains that we have seen.
are sending stocks to a triple digit decline. it s hoping the month of december earn a spot in wall street history but not in a good way. u.s. markets are on track for their worst month since the depression. we did see stocks down as much as 600 points today. they are clawing their way back but still in negative territory. what are seeing in this final hour of trading? this is the hour yesterday where we saw that major surge in the dow when it closed over 1,000 points higher. this pullback today is natural after that massive move by the dow, but it certainly magnifies the volatility that s prevalent in this market right now. 11 of the 18 sessions just in december, there were triple digit moves on the dow. it just highlights how volatile it s been. these year-end gyrations come after miss of moves downward for all of major indices.
necessary this region. if you re located in atlanta, we believe temperatures will stay just above freezing, so not a fro event for you. places like asheville, the potential exists to break records here for all-time snow events. we re forecasting over 15 inches across this region. back to you. thank you so much. let s get a check on cnn business this morning. global stock markets are higher, finally ending a string of bad days over trade war worries, stabilizing around the world after yesterday s news of the arrest of the huawei cfo. in asia, asian market higher. the hang seng falling a little bit, but european stock markets opened up about a percent, as well. on wall street, futures here are lower, suggesting at this hour a triple digit decline for the dow jones industrial average. the dow fell as much as 785
dow is set for a triple digit decline at the open. a contradictory move by the president. he is willing to dodge a trade war with allies. the president suspending steel from the eu and six other countries while they discuss production capacity. this is a china story. for years, companies have complained about really terrible behavior by the chinese companies. chinese government against american interests. is this the right strategy to have? the stock market says no. tame response so far from the chinese. ahead, tensions rise after the police shot and kill an unarmed black man in his grandmother s backyard. protesters blocking thousands from getting into the nba game. next hear from the owner of the kings and his powerful message.
volatility and these wild swings in the stock market have been triggered by this great inflation debate. is the era of low interest rates over and inflation going to come creeping back into the economy? this number would suggest that inflation is starting to come back. you can see futures down about 248 points, suggesting a triple digit decline at the opening bell if this holds. this number is feeding into those fears again that the economy is strong, there s a lot of stimulus in the economy and that could generate more inflation meaning you ll pay higher prices for things. christine, thank you for that reporting. we also have new reporting about white house chief of staff john kelly s future amid the rob porter scandal. the bottom line next.