August 2, 2019 / 11:38 AM / a year ago

US STOCKS-Trump tariff threat hits Wall Street for second day

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* Trump vows to slap 10% tariff on $300 bln of Chinese imports

* Global markets slide, bond yields slip

* Pinterest jumps on FY sales forecast raise

* NetApp tumbles after slashing forecast

* Futures fall: Dow 0.17%, S&P 0.27%, Nasdaq 0.53%

By Amy Caren Daniel

Aug 2 (Reuters) - U.S. stock index futures slid on Friday, after an escalation in trade tensions with China renewed fears of a global economic slowdown, ahead of a closely watched jobs report.

President Donald Trump's threat to slap a 10% tariff on $300 billion of Chinese imports from next month, sent global markets tumbling overnight and investors fleeing for perceived safe-havens like U.S. Treasuries and the Japanese yen.

China on Friday said it would not be blackmailed and warned of retaliation.

"The negative mood across markets suggests that investors are jittery," Lukman Otunuga, senior research analyst at FXTM, said in a note, warning again on the potential impact on growth.

Industrial bellwethers Boeing Co and Caterpillar Inc fell 0.5% and 1%, respectively, in premarket trading.

Shares of tariff-sensitive Apple Inc slid 1.1%, while chipmakers, which get a large portion of their revenue from China, also took a hit.

The sudden escalation in the trade rhetoric comes days after the Federal Reserve played down expectations of further aggressive monetary policy actions after cutting interest rates for the first time in a decade.

Hopes that the Fed would be more accommodative to counter the impact of the bruising trade war had helped Wall Street's main indexes hit record highs last month.

The Labor Department's jobs report, due at 8:30 a.m. ET, will likely show U.S. job growth slowed in July after outsized gains in the prior month, with wages maintaining their moderate pace of increase.

At 6:39 a.m. ET, Dow e-minis were down 44 points, or 0.17%. S&P 500 e-minis were down 8 points, or 0.27% and Nasdaq 100 e-minis were down 41.5 points, or 0.53%.

Semiconductor stocks Micron Technology, Nvidia Corp , Applied Materials Inc and Intel Corp fell between 1% and 3%.

The second-quarter earnings season is in full swing, with 74.4% of the 355 S&P 500 companies that have reported so far beating profit estimates, according to Refinitiv data.

Analysts now see S&P 500 earnings growth of 2.5%, up from 0.3% a month ago, according to Refinitiv data.

NetApp Inc slumped 18.8% after the data storage equipment maker lowered its forecast for the first quarter and 2020, blaming a weakening macro environment in the latter half of the quarter.

Pinterest Inc jumped 17.1% after the online scrapbook company raised its full-year sales forecast and reported second-quarter revenue above Wall Street estimates. (Reporting by Amy Caren Daniel in Bengaluru; Editing by Anil D'Silva)

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