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Stock futures fell sharply late Thursday after President Trump said he'd instructed the U.S. Trade Representative to come up with $100 billion of additional tariffs on Chinese goods. 

Dow Jones Mini futures fell more than 400 points, or 1.7%, while S&P eMinis dropped more than 35 points, or 1.3%.

Trump said "In light of China's unfair retaliation, I have instructed the USTR to consider whether $100 billion of additional tariffs would be appropriate under section 301 and, if so, to identify the products upon which to impose such tariffs," Bloomberg reported. 

Stocks had rebounded in recent days as fears of a global trade war receded. 

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