US STOCKS-Futures fall in wake of Fed's stimulus wind-down outline
* China, euro zone threaten U.S.-led economic recovery
* Ebix plunges after Goldman affiliate merger called off
* Forest keen to bid for Irish drugmaker Elan
* Futures off: Dow 101 pts, S&P 12 pts, Nasdaq 30 pts
NEW YORK, June 20 (Reuters) - U.S. stock index futures fell on Thursday, adding to a more than 1 percent drop in U.S. equities a day earlier, after Federal Reserve Chairman Ben Bernanke outlined the start of a wind-down of stimuli that has been instrumental to the market's rally.
Bernanke said Wednesday the U.S. economy was expanding strongly enough for the Federal Reserve to begin slowing the pace of its bond-buying stimulus later this year.
His comments triggered selloffs in markets that have been supported by the Fed's $85 billion monthly asset purchases, including Treasuries and U.S. equities. The U.S. dollar rose, its strength continuing into Thursday's session.
"The market tends to overshoot and will continue to do so. We'll probably see an overreaction to this," said Art Hogan, managing director at Lazard Capital Markets in New York.
Even as Bernanke painted a rosier picture of the U.S. economy than some expected, weaker factory output in China and a continued recession in the euro zone kept investors concerned about global growth, adding to pressure on stock markets worldwide.
"The data-dependant part (of Bernanke's remarks) should be seen as a positive," said Hogan, but, weighing on markets was "Bernanke, combined with the long-standing concern of a Chinese slowdown."
S&P 500 futures fell 12 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures fell 101 points, and Nasdaq 100 futures lost 30 points.
The S&P 500 is setting up to test support near 1,618, its 50-day moving average, and the lows from two weeks ago in the 1,598/1,600 area.
Forest Laboratories Inc, the specialty drugmaker that counts investor Carl Icahn as a major shareholder, is among a handful of companies interested in bidding for Irish drugmaker Elan Corp Plc , two people familiar with the situation said. Elan's Irish shares were up 3.5 percent.
Walt Disney shares fell 2 percent in light premarket trading after Goldman Sachs removed the stock from its "conviction buy" list.
Shares of Ebix Inc EBIX.O tumbled 37 percent in premarket trading a day after the insurance software provider said that it and an affiliate of Goldman Sachs would cancel their planned merger after U.S regulators started an investigation into allegations of misconduct at Ebix.