Global Selloff Hits Equity Indexes

Stocks are falling today as a global selloff hits equity markets.

S&P 500 futures are down almost 1 percent, while European indexes are lower by about 2 percent. The real declines came in Asia, where Japan’s Nikkei plunged 7 percent and Hong Kong shed 2.5 percent.

The weakness follows a weak purchasing-managers report from China, which showed a contraction in the country’s manufacturing sector for the first time in seven months. Nerves were also on edge yesterday when comments from Federal Reserve officials in the United States suggested that the central bank will slow monetary stimulus.

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