(AP) US futures ending the week on a sour note
Stock futures are falling as Europe’s debt crisis is taking a toll on Asia, where exports are slowing and it is unclear whether even broad fiscal policy actions can help.
The danger is that the painfully slow economic recovery in the U.S., not immune to ills from overseas, will stall.
Dow Jones industrial futures are down 55 points to 13,083 and the broader S&P futures have given up 6.4 points at 1,394.20. Nasdaq futures are down 9 points to 2,708.75.
China, the world’s second-biggest economy, revealed Friday that export growth in July tumbled to 1 percent. That is compared to 11.3 percent growth just last month. And it’s far below forecasts of about 5 percent growth.
China’s trade surplus with Europe, its biggest trading partner, narrowed by 37.9 percent.