Strong earnings from US blue chips not enough to offset concerns about slowing global growth

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NEW YORK — U.S. stock futures fell Tuesday after more evidence pointed to a slowing global economy and threatened to halt the market's three-day rally.

Germany's economy stalled last quarter, dragging down growth for Europe. That offset strong profit reports from blue-chip U.S. companies, and it may also erase hopes that the market had finally calmed down since Standard & Poor's downgraded the U.S. credit rating just over two weeks ago.

Europe's economy and debt problems have been among global investors' main concerns over the last year and a half. On Tuesday, the European Union reported that economic growth in the 17 countries that use the euro slowed to 0.2 percent between April and June from 0.8 percent in the previous quarter. Germany's growth fell to 0.1 percent from 1.3 percent.

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Zachary A. Goldfarb 16 Aug, 2011

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Source: http://feeds.washingtonpost.com/click.phdo?i=f142870efc022ca8940ce085c1d5e83c
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