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US Stock Futures Reverse Course, Fall on European Crisis

Futures are giving up early post-election gains and falling sharply on warnings out of Europe that a broad recession there is now all but certain.

Dow Jones industrial futures are down 93 points to 13,108. The broader S&P futures have given up 8.8 points to 1,416.40. Nasdaq futures are down 16.75 points to 2,659.

All major indexes had been pointing higher Wednesday before the European Union further lowered its expectations for the 27-nation economic bloc. It said European nations will see further declines, and the road back to recovery will take longer because of the viciousness of the continent's debt crisis.

The EU confirmed earlier predictions that the 17 nations that use the euro will tumble into recession soon, and that the entire EU economy will contract.

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U.S. stock index futures fell on Wednesday, putting the S P 500 on track to snap a two-day advance in the wake of Barack Obama's presidential election victory and comments by European Central Bank President Mario Draghi. * With political uncertainty removed, investor focus...
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