US STOCKS-Futures slide as outlooks spur economic fear

* Poor corporate outlooks hurt sentiment

* Tech to lead losses after Apple, TI disappoint

* Wachovia cuts dividend, damps bank sector hopes (Updates with details throughout)

By Ellis Mnyandu

NEW YORK, July 22 (Reuters) - U.S. stock futures slid on Tuesday as disappointing outlooks from bellwethers, including Apple Inc (AAPL.O) and Europe's Vodafone (VOD.L), increased concerns about weakening economic growth and more fallout from the U.S. housing slump.

Adding to the negative tone, Wachovia Corp WB.N, the fourth-largest U.S. bank, posted an $8.86 billion second-quarter loss and slashed its dividend to shore up its balance sheet as mortgage delinquencies rose. For details, see [ID:nWNAB1609].

The news from Wachovia, whose stock declined more than 10 percent to $11.80 before the opening bell, damped hopes the bank sector was stabilizing. In recent days stronger-than-expected results from major banks like Citigroup (C.N), Wells Fargo (WFC.N) and JPMorgan Chase & Co (JPM.N) had fed those hopes.

Apple, also down more than 10 percent at $149.74, was poised to lead a technology sell-off, a day after the iPod and iPhone maker said its current-quarter earnings will be well below Wall Street's targets.

Apple's warning, along with a reduced revenue forecast from Europe's mobile phone company Vodafone, and a poor third-quarter profit forecast from chip maker Texas Instruments (TXN.N) underscored growing unease about slowing economic growth in the United States and abroad.

"We must have a slow economy because Texas Instruments, American Express and Apple are having a hard time," said Arthur Hogan, chief market analyst at Jefferies & Co in Boston. "Those are some household names, putting some pressure on stocks. Wachovia doesn't look positive."

S&P 500 futures SPc1 slipped 11 points and were below fair value, a mathematical formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract.

Dow Jones industrial average futures DJc1 fell 90 points, and Nasdaq 100 NDc1 futures declined 32 points.

Dow component American Express (AXP.N) also reported a profit that missed Wall Street's estimates late on Monday. American Express shares were down 12.5 percent before the bell at $35.80.

In other bank news, SunTrust Banks Inc (STI.N), a large U.S. southeast regional bank, said higher real estate losses led to a 21 percent drop in quarterly profit. SunTrust boosted capital from transactions involving the sale of a big Coca-Cola Co (KO.N) stake. [ID:nN22456591]

Bank examiners from the Federal Reserve and the Comptroller of the Currency are inspecting the books of mortgage finance companies, Fannie Mae (FNM.N) and Freddie Mac (FRE.N), The New York Times reported on Tuesday.

U.S. stocks slipped on Monday as oil turned higher after last week's sharp drop and Merck (MRK.N) and Schering-Plough SGP.N hurt the pharmaceuticals sector. (Editing by Kenneth Barry)