Stock futures recover after Peter Navarro clarifies that U.S.-China trade deal is not over

Stock futures recovered earlier losses after White House trade advisor Peter Navarro clarified that the U.S.-China trade deal is not over.

As of Monday evening stateside, Dow Jones Industrial Average futures was near flat, implying a Tuesday opening gain of around 58 points. S&P 500 and Nasdaq futures also pointed to a flat open for the two indexes.

“My comments have been taken wildly out of context,” Navarro said in a statement. “They had nothing at all to do with the Phase I trade deal, which continues in place.”

President Donald Trump also tweeted that the existing trade deal remains in place.

Earlier in the session, Dow futures had dropped about 400 points. Futures plunged after…