U.S. stock futures slide on bearish earnings, economic data
China talks stimulus, but economic damage already done
Euro near 4week high as Lagarde flags July hike

LONDON, May 24 Reuters Shares slid worldwide on Tuesday as fears about weak earnings and slowing growth punctured the recent minirally, while hawkish remarks from European Central Bank Chief Christine Lagarde reminded edgy markets that rate hikes loom.

Nasdaq futures lost 2.06, with traders blaming an earnings warning from Snap which saw shares in the Snapchat owner tumble 28, while SP 500 futures slipped 1.47. 

That followed a 1.4 fall in MSCI39;s broadest index of AsiaPacific shares outside Japan, while the benchmark STOXX index of European shares fell 1.1.

All major sectors fell, with utilities and commoditylinked stocks leading declines, as investors awaited May Purchasing Managers Index data due in the morning session for clues about the slowing economy.

Italian and Greek bond yields meanwhile touched recent highs after Lagarde said on Tuesday she saw the ECB39;s deposit rate at zero or slightly above by the end of September, implying an increase of at least 50 basis points from its current level.

The comments came a day after Lagarde accelerated a policy turnaround that has seen her go from all but ruling out a move this year to pencilling in several hikes.

It has raised jitters in global markets about the possibility at least of a more aggressive move by the ECB, said Phil Shaw, Chief Economist…