On Monday, the S&P 500 Index drop 1.37% on concerns around trade war. It broke the trend line from March Low. US equities are spooked by the prospects of a deepening trade war. Earlier this month, the recent G7 Summit at Canada displayed signs of tensions between the US and other major industrial nations. US President Trump left the summit earlier and pulled US support from the joint statement. He further accused Canadian Prime Minster Trudeau of being weak and dishonest.