U.S. Index Futures Slide Amid China Squeeze, Retail Volatility
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U.S. stock index futures fell, erasing gains from the previous session, as concerns over a cash squeeze in China and volatile retail-trader speculation sparked a broad equity selloff in Asia.
Contracts on the S&P 500 dropped 1.1% as of 8:22 a.m. in London, while futures on the Nasdaq 100 declined 1.4% and those on the Dow Jones Industrial Average lost 0.9%. A money-market rate in China surged to the highest in almost six years, reflecting tight liquidity in the financial system.