US Stock Futures Signal Lower Start On Wall Street

US stock futures traded lower in early pre-market trade. The pending home sales index for May will be released at 10:00 a.m. ET, while the Dallas Fed general activity index for June will be released at 10:30 a.m. ET. Futures for the Dow Jones Industrial Average tumbled 198 points to 17,675.0, while the Standard & Poor's 500 index futures fell 24.30 points to 2,071.45. Futures for the Nasdaq 100 index dipped 58.30 points to 4,422.20.

European markets were lower today, with the Spanish Ibex Index dipping 3.89 percent, STOXX Europe 600 Index falling 2.50 percent and German DAX 30 index dropping 1.23 percent. French CAC 40 Index declined 3.56 percent and London's FTSE 100 Index fell 1.61 percent. In Asian markets, Japan's Nikkei Stock Average fell 2.88 percent, Hong Kong's Hang Seng Index slipped 2.61 percent, China's Shanghai Composite Index dipped 3.34 percent and India's BSE Sensex slipped 0.60 percent.

Analysts at Deutsche Bank downgraded

from Buy to Sell and lowered the price target from $71.00 to $63.00. Macy's shares rose 1 percent to close at $69.86 on Friday.