Wall Street futures are down this morning. Investors seem to be staying on the sidelines after two losing sessions in a row. They’re also waiting for some major economic reports due to later this week including U.S. producer prices, the Michigan sentiment index and Canadian manufacturing shipments.

In Europe at midday, London’s FTSE index is down 0.27%. Frankfurt’s DAX has fallen 0.8%. Paris’s CAC 40 is down slightly, just 0.88%.

In Asia during Tuesday trading, Tokyo’s Nikkei stock average fell 297.5 points, or 2.83%, to a three-month low of 10,207.04. Profit-taking occurred in technology and other export issues, following the drop in U.S. stocks and dollar.

In Hong Kong, the Hang Seng Index fell 153.06 points, or 1.2%, to 12,003.62. The Hong Kong market was hit by profit-taking, too, following recent gains that put the index at a 27-month high last week.

After markets closed Monday the Bank of Montreal reported that it is replacing Putnam Advisory Co. as advisor to one of its mutual funds. Boston-based Putnam is struggling under the shadow of the U.S. mutual fund industry scandal. Also on Monday H&R Real Estate Investment Trust announced that it has acquired nine office, industrial and retail properties in Canada and the United States for $172 million.

Toronto’s S&P/TSX composite index dropped 44.98 points to 7,815.46, pulled down by the financial sector. Royal Bank retreated 75¢ to $64.25 and TD Bank shrank 80¢ to $42.92.

In New York, the Dow Jones industrial average slid 53.26 points to 9,756.53. The Nasdaq composite fell 29.10 at 1,941.64. The S&P 500 dipped 6.1 points to 1,047.11.

Earnings reports are expected today from information technology company CGI Group Inc., DVD maker Cinram International Inc. and auto parts maker Martinrea International Inc.