[CNBC] — U.S. stock index futures indicated a sharply lower open on Thursday after trading in China was suspended for the second time in a week.

A 7 percent stock drop triggered a circuit breaker, with Chinese markets open for less than half an hour in total.

The Shanghai composite (.SSEC) closed 7.32 percent lower, with the Shenzen composite closing 8.11 percent lower. In Japan, the Nikkei (.N225)finished 2.33 percent lower.

In Europe, stocks also joined the global sell off amid the turmoil in China’s stock market. The pan-European Stoxx 600 (.STOXX) index was around 3.48 percent lower on Thursday morning.

As well as concerns over China – which continues to spook markets – oil has also become a pain trade, with an elusive market bottom.

Brent crude (@LCO.1) traded at $33.07 a barrel on Thursday morning, 3.33 percent lower, while U.S. crude (@CL.1) was at $32.75 a barrel, down 3.59 percent.

On the data front, Thursday will see initial claims released at 8:30 a.m. ET.

On the earnings front Bed Bath & Beyond (BBBY), Ruby Tuesday (RT) and Helen of Troy (HELE) are among the companies due to report after the bell.

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