US STOCKS-Futures slump as China data indicates faltering growth
* Futures down: Dow 311 pts, S&P 39 pts, Nasdaq 90 pts
By Tanya Agrawal
Sept 1 (Reuters) - U.S. stock index futures fell sharply on Tuesday after weak data from China heightened fears of a slowdown in the world's second-largest economy.
* Data showed that China's manufacturing sector shrank at its fastest pace in three years and its services sector also showed signs of cooling.
* Wall Street ended lower on Monday and wrapped up its worst month since 2012 after comments from a senior Federal Reserve official appeared to indicate a potential U.S. interest hike in September.
* Adding to the nervous sentiment, the head of the International Monetary Fund, Christine Lagarde, said that global economic growth was now likely to be weaker than had been expected just a few months ago.
* Oil prices resumed their downward spiral after weak data from China, falling more than $2 in early trade.
* European indexes also fell about 2 percent, extending losses from the previous week.
* Data expected to be released today includes the Institute for Supply Management's index of national factory activity at 10 a.m. ET (1400 GMT), which is expected to fall to 52.6 in August from 52.7 in July. Continuación...