On Friday European stocks slid, extending the Stoxx Europe 600 Index’s biggest monthly drop since March, as US lawmakers called off a vote on a Republican plan for raising the nation’s debt ceiling. Asian shares and US index futures declined.

In Europe, Moody’s placed Spain’s Aa2 credit rating on review for a possible downgrade because of funding pressure and challenges faced by regional governments to meet their budget targets.

House Republican leaders scrapped a vote on the debt ceiling bill late on Thursday, indicating that House Speaker John Boehner is short of votes needed to pass his bill amid a vow by Senate Democrats to defeat the measure.

Officials from President Barack Obama’s administration were to brief the public no earlier than after US financial markets close on Friday on priorities for paying the nation’s bills if the $14.3 trillion debt ceiling isn’t raised, a Democratic official said.

A report later during the day could show the US economy grew in the second quarter at the slowest pace in a year. Gross domestic product expanded at a 1.8% annual rate, compared with 1.9% in the prior three months.

Japanese stocks slipped for a third day after Sony Corp. and Nintendo Co. slashed forecasts, shaking investor confidence. Sony sank 3.3% after slumping demand for televisions forced Japan’s biggest exporter of consumer electronics to cut its outlook for earnings. Gamemaker Nintendo plunged 12%. Nisshin Steel Co. led steelmakers higher after forecasting profit will jump by three quarters on demand from carmakers recovering from the quake. The Nikkei 225 Stock Average slid 0.7%, extending earlier losses after the yen gained against the dollar and the euro. The broader Topix lost 0.8%.