Slower growth in Europe seen as a signal to Fed

Fed funds futures are now showing just a 30% chance of a rate hike on Sept 17, down from 38% yesterday.

The shift comes despite a stronger-than-expected ISM nonmanufacturing index. Instead it was a slate of worries about Eurozone and emerging market growth from ECB President Mario Draghi. So far, the Fed has been dismissive of those worries, saying they won't hit US shores.