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Stock futures fall on discouraging news from Asia

FILE - In this Friday, Feb. 21, 2014, file photo, trader Gregory Rowe, center, works at the post of specialist Joseph Mastrolia, left, on the floor of the New York Stock Exchange. The mood in financial markets steadied Monday, March 10, 2014, despite earlier big losses in Asia following disappointing Chinese and Japanese economic data. (AP Photo/Richard Drew, File)
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Wall Street was poised for a subdued opening Monday as U.S. stock futures fell in pre-market trading. The futures were down following disappointing economic news from China and Japan.

KEEPING SCORE: Dow Jones industrial average futures fell 39 points, or 0.2 percent, to 16,409. Standard & Poor's 500 index futures slipped four points, also 0.2 percent, to 1,873. Nasdaq futures fell four points, or 0.1 percent, 3,699.50.

CHINA WORRIES: China's exports fell by an unexpectedly large 18 percent in February, reinforcing fears about the outlook for the world's second-largest economy after the United States. Meanwhile, Japan, the world's third largest economy, reported a record current account deficit for January and lowered its economic growth estimate for the October-December quarter to 0.7 percent from 1 percent.

EUROPE: The FTSE 100 index of leading British shares was barely changed. Germany's DAX fell 0.3 percent. The CAC-40 in France bucked the prevailing trend and rose 0.5 percent.

ASIAN MARKET: Earlier in Asia, Japan's Nikkei 225 closed down 1 percent and China's Shanghai Composite plunged 2.9 percent. Hong Kong's Hang Seng dropped 1.8 percent. A notable mover was Malaysia Airlines, which fell sharply following the disappearance of one its jets en route to Beijing.

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