May 18, 2017 / 11:35 AM / a year ago

US STOCKS-Futures fall as Trump tumult continues

* Futures down: Dow 110 pts, S&P 10.25 pts, Nasdaq 20.75 pts

By Yashaswini Swamynathan

May 18 (Reuters) - U.S. stock index futures fell on Thursday as markets across the globe continued to reel under uncertainties about President Donald Trump’s political future and its impact on his pro-growth agenda.

* A series of scandals have rocked the White House, including reports that Trump had tried to intervene in an ongoing federal investigation into former National Security Adviser Michael Flynn’s ties with Russia.

* The development led to the harshest selloff in U.S. stocks since Trump was elected in November as investors unwound positions made on hopes that his promises such as tax cuts would stoke economic growth and inflation.

* Flynn and other Trump campaign advisers were in contact with Russian officials and others with Kremlin ties in at least 18 calls and emails during the last seven months of the 2016 presidential race, current and former U.S. officials familiar with the exchanges told Reuters.

* The dollar index remained near its lowest level since November while gold prices edged up for the sixth straight day. Oil prices, that generally rise on a weak dollar, were off more than 1.7 percent.

* Bank stocks, which sold off on Wednesday, were down between 0.7-1.2 percent.

* Market heavyweight Wal-Mart was up 0.77 percent at $77 after the big-box retailer’s quarterly earnings beat analysts’ expectations.

* Incyte Corp rose 9 percent to $131 after the company said its immunotherapy drug combination was effective in a lung cancer study.

Futures snapshot at 7:03 a.m. ET:

* Dow e-minis were down 110 points, or 0.53 percent, with 59,659 contracts changing hands.

* S&P 500 e-minis were down 10.25 points, or 0.43 percent, with 319,760 contracts traded.

* Nasdaq 100 e-minis were down 20.75 points, or 0.37 percent, on volume of 69,107 contracts. (Reporting by Yashaswini Swamynathan in Bengaluru)

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