Wall Street
A woman walks down Wall Street in New York's financial district on March 4, 2014. Reuters/Brendan McDermid

While investors might be looking for bargains following Thursday's dramatic fall across indexes, which was triggered by worries about the future of the Chinese economy, concerns about the latest developments in Ukraine, after Russia was seen amassing its troops on the former's borders, could limit gains.

Futures on the Dow Jones Industrial Average were up 0.11 percent and futures on the S&P 500 were up 0.18 percent while those on the Nasdaq were up 0.19 percent. On Thursday, the Dow fell 1.41 percent, while the S&P dropped 1.17 percent and the Nasdaq plunged 1.46 percent.

On the data front, the producer price index for February is due at 8:30 a.m. EDT and the Thomson Reuters-University of Michigan consumer sentiment index for March is scheduled for a 9:55 a.m. release.

In Europe, markets were weighed down by developments in China and Ukraine, with the Stoxx Europe 600 index down 0.52 percent and the FTSE 100 down 0.19 percent. Germany’s DAX-30 was down 0.38 percent while France's CAC-40 fell 0.56 percent.

In Asia, too, markets were significantly weaker and data showed Japan’s Nikkei-225 plunged 3.3 percent, reportedly on worries about Ukraine and China. Meanwhile, a Bloomberg report, citing the exchange, noted that trading in futures and options contracts on the exchange was halted for about 20 minutes because of a “human operational error.” Australia’s S&P/ASX 200 fell 1.54 percent. Hong Kong’s Hang Seng dropped 1 percent while the Shanghai Composite fell 0.73 percent. South Korea’s Kospi was down 0.75 percent while India’s BSE Sensex inched up 0.16 percent.