REFILE-US STOCKS-Korea tensions weigh on futures, GDP data due

* North Korean attack rattles global markets

* GDP data, Fed minutes awaited

* Hewlett-Packard rises premarket after bullish outlook

* Futures off: Dow 105 pts, S&P 12.9 pts, Nasdaq 20.75 pts

* For up-to-the-minute market news see [STXNEWS/US] (Adds quote, updates prices)

By Ryan Vlastelica

NEW YORK, Nov 23 (Reuters) - U.S. stock index futures were sharply lower on Tuesday as rising tensions on the Korean peninsula added to concerns about global economic conditions.

North Korea fired dozens of artillery shells on Tuesday, killing two soldiers and setting houses ablaze. South Korea returned fire. For details [ID:nL3E6MN0MA]

Global stock markets fell while the dollar climbed as the geopolitical tension along with worries over Ireland's debt problems drove investors to the relative safety of the U.S. currency. Crude oil sank more than 1 percent.

"This is a classic de-risking across the world," said James Dailey, portfolio manager at TEAM Asset Strategy Fund in Harrisburg, Pennsylvania. "I'm not expecting this to mushroom into something more substantial, but right now it's a symptom of the fact that markets have gotten too complacent."

Irish Prime Minister Brian Cowen challenged the opposition to approve an austerity budget and trigger an EU/IMF bailout before early elections, but Irish media reported Cowen may face calls to resign immediately or turn over leadership of his Fianna Fail party at a meeting later Tuesday. [ID:nLDE6AL2AG]

European stocks fell nearly 1 percent to a 3-week low, led by falling banking shares. U.S.-listed shares of Bank of Ireland sank 25 percent to $1.67, while HSBC Holding fell 1.7 percent to $51.38.

On the macroeconomic front, investors will keep an eye on the second estimate of third-quarter U.S. gross domestic product, due at 8:30 a.m. EST (1330 GMT). October home sales are on tap at 10 a.m. EST (1500 GMT).

Economists expect GDP to come in at 2.4 percent, compared with 2 percent in the previous reading, while existing home sales are seen falling 1 percent after rising 10 percent last month.

S&P 500 futures fell 12.9 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures dropped 105 points, and Nasdaq 100 futures lost 20.75 points.

Minutes of the Federal Reserve's Nov. 3 Open Market Committee meeting, when it opted for more quantitative easing, will be released at 2 p.m. EST (1900 GMT).

Dow component Hewlett-Packard Co rose 1.8 percent to $44.03 in premarket trading a day after it raised its 2011 outlook and posted stronger-than-expected quarterly profits. [ID:nN22292240]

"HP performed very strong on an operating basis, but lately the market hasn't really cared about good earnings," TEAM Asset's Dailey said. "It will be interesting to see when we start seeing a bigger rotation into high-quality names like HP."

Campbell Soup Co and Medtronic Inc are scheduled to report results on Tuesday.

Bank shares weighed on Wall Street on Monday as Europe's debt crisis and fears of an insider trading probe sapped buying interest for most of the session. (Editing by Jeffrey Benkoe)