U.S. Stock Futures Point to A Triple-Digit Drop

Tuesday,   23-Oct-2018   03:53 PM (IST)

U.S. stock index futures pointed to a sharply lower open, tracking steep declines in Asia and Europe, as this month's global equity selloff resumed.The blue-chip Dow futures were down 345 points, or about 1.3%, the S&P 500 futures tumbled 40 points, or around 1.4%, while the tech-heavy Nasdaq 100 futures indicated a decline of 126 points, or roughly 1.7%.Elsewhere, in Europe, the region's major bourses were broadly lower, with the regional benchmark falling to a 22-month low, as investors watched developments surrounding Brexit talks and Italy's ongoing budget drama.The pan-European STOXX 600 headed toward a fifth day of losses, sliding 1.6% to reach its lowest level since December 2016.Other benchmarks sustained heavy losses, such as Germany's DAX down 2.4%, also at December 2016 lows.Earlier, Asian shares fell across the board, as a two-day rally for China’s stock market unraveled. The mainland's benchmark Shanghai Composite lost 2.2%, while the Shenzhen Index fell 2.6%.Over in South Korea, the Kospi sank 2.5%, touching lows not seen since March 2017. In Japan, the Nikkei 225 dropped 2.7%.