US futures, stocks tumble with focus on China, Fed: markets shroud

Asian stocks and US futures fell on Wednesday as traders assess the China Evergrande group’s debt crisis and prepare for a Federal Reserve meeting expected to signal a reduction in stimulus later this year.

Shares of Japan and Australia retreated. China resumes operations later in the morning after two days of vacation, while Hong Kong is closed. The S&P 500 and Nasdaq 100 contracts moved lower after lower buying down during the US session, leaving the broader US benchmark gauge unchanged.