Stock futures turn lower in the US pre-market trade after a near-record close, as investors absorb President Trump's announcement on imposing reciprocal tariffs and round out the busy week of economic data, earnings and tariff headlines. The Munich Security Conference commences with the future of Ukraine, NATO and defense spending are on the agenda between Washington, Moscow, Kyiv and Brussels. Not all tariffs are equally inflationary, says Abigail Watt of UBS, who thinks that metals levies

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