Futures Decline on Chinese Data, Lingering Eurozone Disappointment

Future on U.S. stocks and other global risk assets declined on Tuesday on the back of weak Chinese economic data and lingering disappointment over the prospects of a strong Eurozone bailout.

Futures on the S&P 500 Index fell 0.57 percent at 8:01 a.m. ET, futures on the Dow Jones Industrial Average dropped 0.62 percent, and futures on the Nasdaq 100 declined 0.15 percent.

Investors are still reeling after the weekend disappointment regarding the Eurozone bailout.

Heading into the past weekend meeting of G20 finance ministers and central bankers, investors had hoped officials would substantially advance talks on the Eurozone bailout.

However, German officials quickly dashed such hopes, declaring that the weekend meeting did not produce concrete plans and warning investors against putting too much hopes on the upcoming Sunday meeting of European officials.

Data from China also continued to disappointment.

China’s GDP for the third quarter grew 9.1 percent year-on-year, which was below estimate, below last quarter’s growth rate, and fell to the slowest pace since 2009.

Last week, China disappointed the market with weaker-than-expected trade data, which reflect domestic weakness and even the effects of the European debt crisis on the global economy.