Tags: Wall Street

Stock Futures Sink on Debt, Recession Jitters

Friday, 19 Aug 2011 08:04 AM

 

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U.S. stock futures are sinking as economic jitters and uncertainty about Europe's finances fuel another day of selling around the world.

European banking shares fell near two-and-a-half-year lows, dragged down by rumors about the companies' potential losses on bonds issued by heavily-indebted governments. Earlier, Asian shares took a beating, with major indexes in China and Japan losing more than 2.5 percent.

U.S. markets plunged Thursday in a return to the volatile trading that dizzied traders last week. Bad economic news has forecasters warning that another recession is possible.

Well before the market opens, Dow Jones industrial average futures are down 150, or 1.4 percent, at 10,867. S&P 500 futures are down 15, or 1.3 percent, at 1,128. Nasdaq 100 futures are down 22, or 1 percent, at 2,060.

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