US futures slump further after weak job data for February, China deal still uncertain

U.S. stocks futures extended losses on Friday after data showed U.S. job growth almost stalled in February, stoking concerns about a sharp slowdown in domestic economic activity. Nonfarm payrolls increased 20,000 in February, much lower than 180,000 increase in jobs expected by Reuters poll of economists.

Sentiment was already weak after a staggering contraction in China's exports fueled worries over a slowdown in global growth, less than a day after the European Central Bank cut the eurozone's growth forecasts and unveiled a new round of stimulus. At 8:31 a.m. ET, Dow e-minis were down 196 points, or 0.77 per cent. S&P 500 e-minis were down 20 points, or 0.73 per cent and Nasdaq 100 e-minis were down 62.5 points, or 0.89 percent.

Moments before the data, Dow e-minis were down 127 points, or 0.5 per cent. S&P 500 e-minis were down 13.25 points, or 0.48 per cent and Nasdaq 100 e-minis were down 41.25 points, or 0.59 percent.