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Stock Futures Slide on Global Economy Health Worries

Stock futures slid on Tuesday after a reading on China's factory activity disappointed and a change in policy from the Reserve Bank of Australia triggered fears over the health of the global economy.

S&P 500 futures were down 0.7%, Dow Jones Industrial Average futures fell 0.69%, and Nasdaq futures slid 0.79%.

An unofficial reading on factory activity in China fell further into contraction in April, cementing concerns over the health of the world's second-largest economy. The Markit and Caixin Media survey saw activity fall to 49.4 in April from 49.7 in March, declining further below 50, the level separating expansion from contraction. This is the 14th straight month in contraction.

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The Reserve Bank of Australia cut rates...


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