Squawk Morning Call: US Futures Struck by War, Trade Volatility

The main US stock futures are in the red as uncertainty mounts over the war in Ukraine and escalating trade tensions with the EU. S&P 500 futures managed to pare some losses to 0.2% after the release of PPI data. Russell futures are little changed. The US Treasury 10-year yield rises to 4.34%. Gold climbs, while oil falls. Bitcoin slips 0.4%.

Hong Kong fell 0.6% overnight, and European markets trade mostly lower this morning.

Technicals to Watch:

• Intel surges 13.6% premarket after appointing Lip-Bu Tan as CEO. Trading range resistance zone remains $25.50-$26.

• S&P 500 has tried to form a bottom by forming long ...