U.S. stock futures were sliding and pointed to a sharply lower open on Monday following a market rout in Europe and Asia, where a plunge in Chinese stocks triggered a trading halt. Investors stateside were also waiting for the latest readings on the manufacturing and construction sectors.
Futures for the Dow Jones Industrial Average YMH6, -1.93% slumped 322 points, or 1.9%, to 17,022, while those for the S&P 500 index ESH6, -1.85% lost 36 points, or 1.9%, to 1,999. Futures for the Nasdaq 100 index NQH6, -2.23% dropped 100 points, or 2.2%, to 4,488.
Among individual stocks, shares of Tesla Motors Inc. TSLA, +0.81% dropped 4.5% premarket after the electric car maker released delivery numbers for the fourth quarter on Sunday. China slump: The sharp losses followed an almost 7% slide in China’s Shanghai Composite Index SHCOMP, -6.86% on the back of a weak manufacturing reading. The slide activated a new circuit-breaker system for Chinese stocks, halting trading on the mainland for the rest of the day. European stocks also slumped. FULL REPORT