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Stock Futures Take A Beating; Dollar Tree, Ambarella Slide

Weak overseas data kicked global investors into a selling mood Tuesday, sending stock futures sharply lower in the U.S.

Dow futures swooned 353 points below fair market value. Nasdaq 100 futures were more than 100 points lower. S&P 500 futures traded down 43.6 points. Small caps were hard hit, with Russell 2000 futures diving 21 points.

The stock market today again appears subject to circumstances in China. Official purchasing managers index data there showed manufacturing contracted in August.

The independent Caixin Markit PMI rose slightly from its earlier estimate, to 47.3 in August, but it's still the country's "quickest deterioration in operating conditions for over six years." Caixin Markit's overall services/manufacturing gauge also slipped to 48.8, down from 50.2 in July.

That news was compounded by a nearly 15% drop in exports out of South Korea in August, far worse than the forecast 6% decline.

Japanese stocks reacted hardest, with...


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