Stocks are down this morning as negative headlines overseas add fuel to yesterday’s bearish close.
S&P 500 futures are falling by about one-third of a percent, while most indexes in Europe are down by 1 percent to 2 percent. Similar losses occurred in Asia, led by a 3 percent decline in Shanghai.
Chinese authorities are cracking down on real-estate speculation, while European manufacturing data showed a greater-than-expected contraction in the region’s manufacturing sector. Those news reports follow minutes from the Federal Reserve yesterday when some policymakers wanted to halt the policy of aggressive asset purchases in the United States. Housing data was also weaker than expected, triggering the biggest drop since mid-November.
— Option Monster