Stocks Selling Off Around the World; U.S. Futures Down
August 17th, 2009Via: Bloomberg:
U.S. stock-index futures retreated, indicating the Standard & Poor’s 500 Index will extend last week’s drop, as Japan’s economy grew less than estimated and commodities declined. Stocks in Asia and Europe tumbled.
Intel Corp., which gets about 60 percent of annual sales in the Asia-Pacific region, and International Business Machines Corp. fell at least 1.5 percent in Europe. Citigroup Inc. and Bank of America Corp. both sank 3.9 percent in early New York trading. Alcoa Inc. and ConocoPhillips slipped with metals and crude oil prices.
Futures on the S&P 500 expiring in September retreated 1.9 percent to 986.30 as of 11:16 a.m. in London. Dow Jones Industrial Average futures declined 1.8 percent to 9,157, while Nasdaq-100 Index futures slid 1.7 percent to 1,587.50.
