Squawk Box anchors discuss the latest sell-off in U.S. stocks amid the ongoing fears about the US-China trade war, with the Dow braced for its fifth weekly drop and its longest losing streak for 8 years. The yield on the U.S. 10-year Treasury also plunges to 2017 lows amid the risk-off sentiment and oil dips nearly 6 per cent before clawing back losses. Meanwhile, President Trump suggests Huawei could be included in an eventual trade agreement despite branding the Chinese smartphone giant as ‘dangerous’. Secretary of State Mike Pompeo tells CNBC the tech giant is lying about its ties to the Chinese government. Deutsche Bank chairman Paul Achleitner survives calls to oust him as the troubled German lender warns of cutbacks during its annual shareholder meeting. And we are live in Westminster where word on the street is that UK Prime Minister Theresa May could be ready to tender her resignation amid a cabinet backlash over her latest Brexit deal proposal.

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