S&P/ASX 200 (INDEXASX:XJO) early futures have the index opening down 0.5% which will end what has been a strong week for the ASX 200.
Both the S&P 500 Index (INDEXSP:.INX) and the Nasdaq Composite (INDEXNASDAQ:.IXIC) finished down over 1%.
Oil prices fell nearly 6% in response to rising US crude inventories and weak demand from refineries.
[VIDEO] Morning Report - An escalation in trade tensions between the US & China has invigorated global growth concerns. As a result stocks fell and safe havens, such as government bonds rallied. https://t.co/V26MIj9eAW#ausbiz #Markets #AUDUSD— CommSec (@CommSec) May 23, 2019
Pre-market company news: EHE trading update, SYD holds AGM
While this is an increase of 2-4% compared to FY18, the guidance given at the February result was low to mid single digit growth, which was following by an April update re-affirming earnings guidance.
Sydney Airports Ltd (ASX:SYD) holds its annual general meeting (AGM) today and it has reaffirmed its 2019 distribution guidance of 39 cents per stapled security, representing 4.0% growth on 2018.
The company also expects that 2019 will see more subdued growth in passengers across the board, which it has seen that in the first four months of this year.