Stock futures are plummeting as fears of a global economic slowdown grow and tensions rise on the Korean peninsula. Dow Jones industrial average futures are down more than 2 percent.

The euro is again approaching a four-year low. It is down to $1.2195.

European leaders are warning the continent's economy would stagnate unless governments make major reforms to promote growth.

World markets are also being hurt by reports that North Korea's military has been ordered to combat alert because of growing tensions with South Korea.

Dow futures are down 225, or 2.3 percent, at 9,817. Standard & Poor's 500 index futures are down 29.30, or 2.7 percent, at 1,041.70, while Nasdaq 100 index futures are down 40.75, or 2.3 percent, at 1,711.75.