NEW YORK (AP) — Stock futures are sliding as data out of China, whose blistering economy helped sustain global growth during the economic downturn, show some signs of weakness.
In premarket trading, Dow Jones industrial average futures fell 57 points to 13,110 and the broader Standard & Poor’s 500 futures fell 7.7 points to 1,396.30. Nasdaq 100 futures fell 10.5 points to 2,717.25.
Home prices dropped in 45 Chinese cities in February as the government tries to cool property speculation. And mining giant BHP Billiton said Tuesday it expects iron ore demand in China will flatten somewhat.
The U.S. Commerce Department is expected to report Tuesday that U.S. builders likely started work on slightly fewer homes in February than a month earlier ahead of the spring home-buying season.
European indexes are falling as well.
Copyright 2012 The National Memo