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*
Beijing unveiled yet another battery of measures to arrest the
sell-off and the securities regulator warned of "panic
sentiment" gripping investors in the world's second-largest
economy.
* Growing concerns of a slowdown in China were reflected in the
commodities markets, with copper prices falling to a six-year
low. Oil prices, however, recovered slightly from their worst
week in past few months.
* More than 30 percent has been knocked off the value of Chinese
shares since mid-June, and for some global investors the fear
that China's market turmoil will destabilize the real economy is
now a bigger risk than the crisis in Greece.
* Euro zone members have given Greece until Sunday to come up
with convincing reform proposals in return for loans that will
keep the country from crashing out of the single currency.
* With its banks closed, cash withdrawals rationed and the
economy in freefall, Greece has never been closer to a total
state bankruptcy that would probably force it to print an
alternative currency and leave the euro.
* Investors will also scrutinize the minutes from the U.S.
Federal Reserve's June 16-17 meeting to see if the storm clouds
over Greece and China will have any effect on the timing and
pace of an interest rate increase. The minutes are due at 2:00
p.m. ET.
* San Francisco Fed President John Williams is scheduled to
speak on the economic outlook before the International
Conference of Commercial Bank Economists later in the day.
* U.S. quarterly earnings season kicks off, with Alcoa reporting
results after the close of markets. Corporate profits are
expected to have fallen 3.1 percent in the second quarter,
according to Thomson Reuters data.
* Microsoft shares fell 2.2 percent to $43.75 in premarket
trading after the New York Times reported the company plans to
announce a new round of layoffs to cut costs further.
(Editing by Savio D'Souza)
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