--Stock futures drop as evidence of slowing growth in China and Europe emerges --Bank stocks slip amid news of bank clashes with Fed over stress-test disclosures --Data on service-sector activity and January factory orders on tap for later Monday morning By Tomi Kilgore and Christian Berthelsen Of U.S. stock futures lost ground Monday morning amid concerns over economic growth in China and the euro zone. About 60 minutes before the opening bell, Dow Jones Industrial Average futures gave up 14 points, or 0.1%, to 12954. The Dow lost 5 points, or less than 0.1%, last week to mark the first weekly loss in three weeks. Standard & Poor's 500-stock index futures lost 2.1 points, or 0.2%, to 1367 and Nasdaq 100 futures shed 3 points, or 0.1%, to 2641. The S&P 500 rose 0.3% last week to post its third consecutive weekly gain, and eighth in the last nine weeks. Changes in stock futures don't always accurately predict stock moves after the opening bell. European markets were broadly lower, with the Stoxx Europe 600 down 0.4%, after business activity in the euro zone contracted more than expected in February. The composite purchasing managers' index for the 17-nation bloc fell to 49.3, below an earlier estimate and forecasts of 49.7. Readings below 50 indicate contraction. In addition, there were concerns that the participation rate of Greece's private creditors in the voluntary debt restructuring deal needed for Greece to receive bailout funds will be too low, which in effect could trigger a default. Asian bourses also fell after Chinese Premier Wen Jiabao said the 2012 target for economic growth would be 7.5%, down from the symbolic target of 8% that had been in place for eight years. China's Shanghai Composite shed 0.6% and Japan's Nikkei Stock Average lost 0.8%. Gold futures slipped 0.3% to $1,705.20 an ounce, while crude oil futures were flat at $106.67 a barrel. The U.S. dollar eased against both the euro and the yen. The yield on the U.S. 10-year Treasury note rose to 1.994%. On the economic calendar, a reading on service-sector activity in February and data on January factory orders are scheduled for 10 a.m. EST. In corporate news, some of the nation's largest banks are clashing with the Federal Reserve over how much detail will be revealed when results of the latest stress test are released, The Wall Street Journal reported. The banks are concerned that making additional details public could have "unanticipated and potentially unwarranted negative consequences to the covered companies and the U.S. financial markets." Among the blue-chip banks concerned, shares of J.P. Morgan Chase and Bank of America fell 0.3% in premarket trading. Beyond the Dow, Goldman Sachs shed 0.4% and Wells Fargo rose 0.1%. Citigroup declined 0.3% when the bank said Chairman Richard Parsons will step down, after deciding not to stand for re-election at the annual shareholders meeting on April 17.

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