Wall Street stock-index futures were lower on Wednesday after the second sharp selloff in a week by markets in China.

Shanghai stocks dropped 4.3% amid concerns over further tightening in credit conditions and a lack of market-supportive measures from Beijing.

Hong Kong’s Hang Seng index declined 1.7% Japan’s Nikkei 225 ended 0.8% lower.

In Europe, the UK’s FTSE 100 index dipped 0.45%, and the Frankfurt DAX and Paris CAC 40 backed off about 0.6%.

Here at home, the Canadian dollar was down 0.53 to US90.23¢ as Statistics Canada reported that consumer prices fell during July on an annual basis and on a month-to-month basis, dipping 0.3% from June.

Consumer prices fell 0.9% in July 2009 compared with July 2008, following a 0.3% decrease in June, StatsCan said.

In earnings news, computer maker Hewlett-Packard reported a 19% decline in quarterly earnings.

In other market news, Goldman Sachs pared their rating on Alcoa from buy to neutral, with aluminum inventories at high levels around the globe.

In commodities news, the September crude contract on the New York Mercantile Exchange lost 43¢ to US$68.76 a barrel.

The December bullion contract in New York fell $1.70 to US$937.50 an ounce.

On Tuesday, the Toronto Stock Exchange recovered some of the previous day’s losses, as rising oil prices helped pushed energy stocks higher.

The S&P/TSX composite index surged 142.25 points, or 1.4%, to close at 10,673.84.

The energy group led the way with gains of 1.9% The junior S&P/TSX Venture composite index also finished higher on Tuesday, adding 6.68 points, or 0.6%, to close at 1,166.50.

In New York, U.S. markets also finished Tuesday’s session with a partial recovery from Monday’s losses. The markets were bolstered by better-than-expected earnings reports from several U.S. retailers.

The Dow Jones industrial average advanced 82.6 points, or 0.9%, to finish at 9,217.94.

The S&P 500 index added 9.94 points, or 1%, to close at 989.67.

The Nasdaq composite index climbed 25.08 points, or 1.3%, to end at 1,955.92.

IE