U.S. stock-index futures fell, indicating the Standard & Poor’s 500 Index will extend its biggest quarterly drop since 2008, after reports from China and Germany added to concern the global economy is slowing.
Caterpillar Inc. (CAT), the world’s largest construction and mining-equipment maker, slipped 0.6 percent in German trading. JPMorgan Chase & Co. (JPM) dropped 0.4 percent, while Bank of America Corp. (BAC) slid 1.6 percent. Exxon Mobil Corp. (XOM) decreased 1 percent in European composite trading as oil headed for the biggest quarterly decline in New York since 2008.
S&P 500 futures expiring in December retreated 1.1 percent to 1,144 at 10:49 a.m. in London. Dow Jones Industrial Average contracts fell 105 points, or 1 percent, to 10,994.
“Those concerns are very much alive,” Veronika Pechlaner, who helps manage about $1.8 billion at Jersey, Channel Islands- based Ashburton Ltd., said in a telephone interview, referring to a slowdown in economic growth. “Now we’re going through the process of really finding out how bad it’s going to be.”
http://www.bloomberg.com/news/2011-09-30/u-s-stock-futures-decline-on-concern-worldwide-economic-growth-is-slowing.htmlI'll admit that I enjoyed putting these two headlines right next to each other.