US STOCKS-Futures slump as China devalues yuan further
* Futures down: Dow 153 pts, S&P 18 pts, Nasdaq 40 pts
By Tanya Agrawal
Aug 12 (Reuters) - U.S. stock index futures fell sharply for a second day in a row on Wednesday as China pushed the yuan lower again, exacerbating fears about a global economic slowdown.
* The yuan hit a four-year low with spot yuan dropping as low as 6.4510 per dollar, its weakest since August 2011, after the Chinese central bank set its daily midpoint reference at 6.3306, even weaker than Tuesday's devaluation.
* Commodity prices were also lower, with copper hitting a 6-year low. The 19-commodity Thomson Reuters/Core Commodity CRB index were at lows not seen since 2003.
* China's surprising move has led to speculation that the U.S. Federal Reserve will wait until December to raise rates.
* The probability of a rate hike next month faded to less than 50 percent, from a near 60 percent probability after last week's solid U.S. jobs data.
* The dollar index was slightly lower and failed to extend its gains against emerging market currencies across the board, on falling U.S. yields and Fed rate hike expectations.
* Automakers with a big exposure to China also fell again. Shares of General Motors Ford Motor and Fiat Chrysler were all down 1 to 4 percent premarket. Continuación...