NEW YORK — U.S. stocks appear headed for a slightly lower opening on renewed worries about the eurozone economy.
Futures for the Dow Jones industrial average fell 0.1 percent to 11,880. Futures for the broader Standard & Poor’s 500 were nearly unchanged at 1,220. Nasdaq Composite futures fell 0.2 percent to 2,263.
Italy’s borrowing rates ratcheted higher once again and the euro slid below $1.30 for the first time since the first few days of the year, two signs that the debt crisis continues to pressure Europe’s governments and markets.
Sentiment was also undermined by the U.S. Federal Reserve’s statement Tuesday that the U.S. economy, while improving, is still weak. Unemployment remains high, and the economy remains vulnerable to the European debt crisis, which could push the continent into a recession and slow U.S. growth.
In Europe, eurozone industrial production slipped 0.1 percent in a further sign of weakness many think will lead to a recession.
In Europe, Germany’s DAX was 1 percent lower at 5,718 while the CAC-40 in France fell 1.4 percent to 3,035. The FTSE 100 index of leading British shares was 0.9 percent lower at 5,439.
Analysts said markets were disappointed that the Fed refrained from a third round of large-scale purchases of Treasury securities, dubbed quantitative easing III or QE3.
Earlier, Asian shares closed lower. Japan’s Nikkei 225 index fell 0.4 percent to end at 8,519.13, its lowest close in two weeks. South Korea’s Kospi lost 0.3 percent at 1,857.75 and Hong Kong’s Hang Seng shed 0.5 percent to 18,354.43.
Comments