Futures were off their worst levels Friday, but were still lower, pressured by losses in Asia and Europe and many investors concerned the world economy is on the brink of another recession.
European stocks approached two-year lows after already suffering heavy losses on Thursday.
Fears that euro zone leaders would not be able to contain the debt crisis weighed on stocks, as did concerns over funding for European banks.
Commodities also suffered, with oil prices lower amid concerns over global growth. Meanwhile gold continued to rally, touching new highs.
Hewlett-Packard declined sharply after the IT giant said it was considering a spinoff of its PC business and had struck a deal to buy UK software maker Autonomy. In addition, the Dow component also posted earnings that met expectations, but slashed its full-year forecast.
HP's weak forecast comes after rival Dell's
Meanwhile, Marvell Technology jumped after the chipmaker posted a surprisingly strong quarter.