By Sam Meredith, CNBC–

U.S. stock index futures were lower Friday morning, with market participants increasingly worried about a broadening global economic slowdown.

At around 4:00 a.m. ET, Dow Jones Industrial Average futures slipped 70 points, indicating a negative open of more than 75 points. Futures on the S&P 500 and Nasdaq Composite were also seen relatively downbeat.

Market focus is largely attuned to global trade developments, after President Donald Trump said he did not plan to meet with Chinese President Xi Jinping before a March 1 deadline to reach a deal.

Trump’s stance rattled investors hoping for a positive resolution to a long-running trade dispute between the world’s two largest economies.

While Trump and Xi are still expected to meet eventually, there’s too much work to do to flesh out a deal with China and prepare Trump for a high-stakes meeting with North Korea’s Kim Jong Un. Trump’s summit with Kim is set for Feb. 27-28.

Elsewhere, the European Commission on Thursday sharply downgraded its forecast for euro zone economic growth in 2019 and 2020. The news exacerbated fears that a global economic downturn is spreading to Europe.

Back in the U.S., investors are likely to monitor another fresh batch of corporate results on Friday. Arconic, Hasbro and Philips 66 are all expected to publish their latest quarterly earnings before the opening bell.

There are no major economic reports scheduled on Friday.

There are no major economic reports scheduled on Friday.