European stock futures plunge

European stock futures were down during the early trade on Tuesday as tech stocks and dismaying Japanese growth weighed on markets despite progress on U.S. stimulus package.

Germany’s DAX futures contract was down 0.1%, France’s CAC 40 futures also dipped 0.1%, and the U.K.’s FTSE 100 futures declined 0.4%.

Japan’s economy was reported to have expanded at a pace slower than initially reported in the fourth quarter of 2020, expanding 2.8%, compared to the initially reported 3.0% gain.

Andrew Bailey, Bank of England’s Governor, remarked on Monday the U.K.’s economic path is headed downwards.

Euro-zone’s revised fourth-quarter euro-zone GDP growth figures will be out later in the session.

Meanwhile, Joe Biden’s $1.9 trillion stimulus package is set to be taken up by the House of Representatives by “Wednesday morning at the latest,” according to Speaker Nancy Pelosi.