Europe stock futures fall 2 pct; track Asia, U.S.

LONDON, July 8 (Reuters) - European stock futures pointed to heavy falls at the open on Tuesday, tracking Asian and U.S. losses, with financials in focus as investors worried that the sector would have to raise more capital.

U.S. bank stocks plummeted overnight to their lowest level in a decade after Lehman Brothers estimated that a proposed accounting rule would force battered Fannie Mae (FNM.N: Quote, Profile, Research) and Freddie Mac (FRE.N: Quote, Profile, Research) to raise as much as $75 billion between them.

At 0607 GMT, futures for the DJ Euro Stoxx 50 STXEc1 lost 1.9 percent, futures for the CAC 40 FCEc1 shed 2 percent and futures for the DAX 30 FDXc1 were 1.7 percent lower.

The pan-European FTSEurofirst 300 index ended the previous session up 1.3 percent following a recent bout of heavy losses. On Wall Street the Dow Jones industrial average .DJI shed 0.5 percent, while Japan's Nikkei .N225 lost 2.5 percent. (Reporting by Rebekah Curtis)