US STOCKS-Futures sink as oil rout shows no signs of abating
* Futures down: Dow 314 pts, S&P 36.5 pts, Nasdaq 88 pts
By Tanya Agrawal
Jan 20 (Reuters) - U.S. stock index futures fell sharply on Wednesday, tracking global markets, as crude oil prices tumbled to new lows and fears of slowing global growth continued to gnaw at investors.
* U.S. crude wallowed at its lowest since 2003 and Brent crude fell to near 12-year lows. The IEA, the world's energy watchdog, warned the market could "drown in oversupply."
* European stocks slid to their lowest since October 2014 and were set for biggest fall of the year so far, while Japan's Nikkei slid into bear market territory.
* The U.S. market has been roiled this year due to slumping oil prices and weak economic data out of China, the world's second-largest economy and a key market for major U.S. companies.
* The S&P 500 has fallen 8 percent so far this year, wiping off more than $1.4 trillion, while global markets have lost $4.2 trillion, according to Thomson Reuters data.
* Still, the S&P currently trades at 14.9 times forward earnings, slightly higher than its 10-year median of 14.7, according to Thomson Reuters StarMine.
* Concerns regarding the state of the global economy has taken some attention away from fourth-quarter U.S. corporate earnings, which is expected to fall 4.4 percent. Continuación...