Global stocks slip again as growth worries mount

Global stocks extended slump on Monday, with US equity futures and Asian shares sliding on worries over slowing growth and fears that a rise in tensions between Washington and Beijing could torpedo chances of a trade deal.

Spreadbetters expected European stocks to follow, with Britain's FTSE seen dropping 0.7 per cent, Germany's DAX 1.1 per cent and France's CAC .FCHI 1.0 per cent.

Traders returned from the weekend to face a growing wall of worry, with the world’s largest economies — the United States, China and Japan — all reporting weaker-than-expected data which pointed to moderating activity, reports Reuters.

S&P futures ESc1 and Dow futures YMc1 both fell 0.7 per cent, suggesting more pressure on Wall Street later in the session as investors continue to dump riskier assets.

MSCI’s broadest index of Asia-Pacific shares outside Japan slid 1.5 per cent to a near three-week low.