Bloomberg:

Jan. 22 (Bloomberg) — U.S. stock-index futures tumbled on concern the global economic slowdown is worsening, pointing to the biggest decline in the Standard & Poor’s 500 Index in five years. S&P 500 Index futures expiring in March lost 54.7, or 4.1 percent, to 1,270.6 as of 11:44 a.m. in London, paring a drop of as much as 5.3 percent. The MSCI World Index fell 0.9 percent, bringing its two-day retreat to 3.8 percent. European stocks rebounded, with the Dow Jones Stoxx 600 Index trading 0.3 percent higher, on speculation that the worldwide equity slump may spark coordinated interest-rate reductions by central banks. Exxon Mobil Corp., the largest oil company, and Barrick Gold Corp., the biggest gold producer, fell in Europe as crude and metal prices decreased. Bank of America Corp. declined before the second-largest U.S. bank reports fourth-quarter earnings. “Investors are panicking,’’ said Chirin Gill, who helps manage the equivalent of $3 billion at Daiwa SB Investments in London. “All of the economic data coming out of the U.S. points to a severe weakening.’’ A 4.1 percent decline for the S&P 500 would be the biggest since a 4.2