US stock futures tumble, following global markets
Wednesday, August 17, 2011
NEW YORK (AP) -- U.S. stock futures are following global markets lower on worries about the economy.
Asian markets started the declines. Japan's Nikkei 225 index fell 1.3 percent after the country's exports fell 3.3 percent in July. In London, the FTSE 100 index fell 1.9 percent after a report showed growth in British retail sales slowed last month. The German DAX index fell 3.4 percent.
In the U.S., economists expect reports on Thursday to show that more people joined the unemployment lines last week while consumer prices rose 0.2 percent in July, not enough to stoke inflation fears.
Two hours ahead of the opening, Dow Jones industrial average futures are down 173 points, or 1.5 percent, to 11,208. S&P 500 futures are down 21.70, or 1.8 percent, to 1,168.20. Nasdaq 100 futures are down 43, or 2 percent, to 2,132.25