(For a Reuters live blog on U.S., UK and European stock

markets, click/ or type LIVE/ in a news window.)

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Illumina ( ILMN ) falls after China bans imports of its gene

sequencers

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Target ( TGT ) rises after quarterly earnings beat estimates

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Tesla's China-made EV sales fall 49.2% in February

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Futures: Dow down 0.11%, S&P 500 down 0.1%, Nasdaq up

0.01%

(Updates with Target ( TGT ) results)

By Johann M Cherian and Sukriti Gupta

March 4 (Reuters) - U.S. stock index futures were flat

on Tuesday following a selloff on Wall Street in the previous

session when President Donald Trump imposed tariffs on trade

partners that could intensify a growth-denting global trade war.

At 7:00 a.m. ET, Dow E-minis were down 46

points, or 0.11%, S&P 500 E-minis were down 5.75 points,

or 0.1%, and Nasdaq 100 E-minis were up 1.75 points, or

0.01%.

The CBOE market volatility index edged up 0.19 points

after hitting a two-month high at 24.31 in the previous session.

The benchmark S&P 500 logged its biggest one-day drop

since mid-December and the Nasdaq closed lower by about

9% from its all-time high on Monday after the U.S. imposed 25%

tariffs on imports from Mexico and Canada, and doubled duties on

Chinese goods to 20%. A standoff between the countries could

upend nearly $2.2 trillion in two-way annual trade.

China responded with additional tariffs of 10%-15% on

selected U.S. imports and Canada has vowed to respond with

immediate 25% tariffs.

Ford and General Motors ( GM ), that have vast supply

chains across north America, were steady in premarket trading

after sharp declines in the previous session.

Illumina ( ILMN ) fell 3.2% a day after China banned imports

of genetic sequencers from the medical equipment maker, just

minutes after Trump's tariff announcement.

U.S.-listed shares of Chinese companies Bilibili

and Netease rose about 3.8% each, rebounding from

Monday's losses.

Investors are pricing in that the surcharges will fan

inflation pressures, dampen demand and eat into corporate

profits at a time when recent data has resurfaced expectations

of a stalling economy. Futures tracking the domestically focused

small-caps Russell 2000 index dipped 0.3%.

Morgan Stanley estimates that 25% tariffs on Mexico and

Canada and 10% tariffs on China through 2026 could collectively

reduce earnings for the S&P 500 by 5% to 7%.

"Despite certain market participants treating Trump's tariff

talk as a negotiation tactic, the latest developments show that

he is serious about implementing his 'America First' agenda,

completely ignoring the impact on the global economy," said

Achilleas Georgolopoulos, senior market analyst at brokerage XM.

Executives are also holding back on investments and

expenditures as they wait for more clarity on Trump's upcoming

policies. Analysts say April 1 will be the date when the

president is likely to announce his full-fledged global trade

policy.

Interest rate futures point to the Federal Reserve

delivering at least three 25 basis points interest rate cuts by

December, up from about two on Monday, as traders bet on the

likelihood that slowing growth could nudge the central bank to

lower borrowing costs.

New York Fed President John Williams' comments later in the

day will be parsed for the central bank's stance on monetary

policy.

U.S. shares of bullion miners such as Harmony Gold Mining

and Gold Fields added 0.7% and 2%, respectively,

tracking higher gold prices as markets flocked to the safe-haven

asset.

U.S.-listed shares of TSMC added 1.9% a day after

unveiling a fresh $100 billion investment in the United States.

Tesla fell 1.6% after data showed that the

automaker's China-made electric vehicles sales fell 49.2% in

February.

Target ( TGT ) rose 3.9% after the retailer beat estimates

for fourth-quarter results.