U.S. PRE-MARKET INDICATORS

-Dow Industrial futures down 160 points.

-S&P 500 futures down 20 points.

-Nasdaq 100 futures down 26 points.

-Nasdaq-100 Pre-Market Indicator down 21.31 at 1590.27.

GLOBAL SENTIMENT

Nikkei down 3.1%

Hang Seng down 3.6%

FTSE-100 down 1.7%

PRE-MARKET SECTOR WATCH

(+,-) Large cap tech: mixed

(+,-) Chip stocks: mixed

(+,-) Small cap stocks: mixed

(+,-) Drug stocks: mixed

(+,-) Software stocks: mixed

(+,-) Internet stocks: mixed

(-) Financial stocks: lower

(-) Auto stocks: lower

(-,+) Airline stocks: mixed

(-) Retail stocks: lower

DOWNSIDE MOVERS

(-) LOW (-10.4%) misses with results, guidance.

(-) HD (-5.9%) is lower in wake of LOW results; HD due to report in Tuesday's pre-market.

(-) GFG (-18.4%) drops as regulators reportedly want bids for company by today.

(-) ETFC (-5%) down as regulators delay decision on Citadel deal.

(-) RST (-16.2%) terminates plans for stock offering, cuts earnings view.

(-) FSLR (-4.1%) declines as Barron's article says upbeat earnings were likely the result of aggressive accounting.

(-) BBT (-3.3%) sets stock offering.

(-) AEZS (-64%) does not achieve statistical significance in drug for benign prostatic hyperplasia.

(-) SNEN (-58.3%) not in complience with debt covenants.

UPSIDE MOVERS

(+) KO (flat) gets favorable coverage in Barron's.

(+) HGSI (+4.6%) achieves lupus drug goals.

(+) PLX (+30%) says FDA OKs treatment protocol for gaucher disease.

(+) BPAX (+16.8%) gives H1N1 vaccine presentation.

(+) GFSI (+35%) sold to Jack Henry & Associates.

MARKET DIRECTION

Stock futures are tilting sharply lower to start the new week. Futures did slightly pare their declines after a regional manufacturing gauge came in much stronger than expected, but global equities have already set the downbeat tone; Chinese stocks suffered their steepest drop since November.

The New York Fed's Empire State Index registered at 12.1 for August, the best reading since November 2007, according to reports. The August Home Builders' Index is due out at 1 p.m.

China's Shanghai Composite index posted its biggest percentage drop since November, tanking 5.8% to end at 2,870.63. It was the first close below 3,000 since the end of June. Hong Kong's Hang Seng Index skidded 3.6% to end at 20,137.65.