Stock futures falling ahead of economic data

By Matthew Craft

Associated Press

Published: Wednesday, Nov. 23 2011 6:20 a.m. MST

In this Nov. 9, 2011, traders work on the floor of the New York Stock Exchange. Global stocks fell Wednesday, Nov. 23, 2011, after more evidence emerged that the global economy is faltering fast and that the eurozone is heading for a recession as the debt crisis spreads to the bigger economies like Italy and Spain.

Richard Drew, Associated Press

Enlarge photo»

NEW YORK — U.S. stock futures are falling on worries about global economic growth.

Stock markets in Asia fell after a survey showed manufacturing falling in China, the world's second-largest economy. That came a day after the U.S. government lowered its estimate of third-quarter economic growth in the world's biggest economy.

Before U.S. markets open Wednesday, the government will release new data on consumer and business spending in October along with a weekly look at first-time claims for unemployment benefits. Initial unemployment claims are expected to inch up to 390,000.

Less than two hours before the opening bell, Dow Jones industrial average futures are down 81 points, or 0.7 percent, to 11,364. S&P 500 index futures are down 9, or 0.8 percent, to 1,173. Nasdaq 100 futures are down 15, or 0.7 percent, to 2,199.

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