Stock futures tumble on European concerns


Published: May 19,2010

Tags: global markets, investing, stocks and bonds

NEW YORK — Stock futures are tumbling a day after Germany banned a form of short selling as part of an effort to try to stabilize Europe’s weakening currency.

However, the move has not brought relief to investors. European markets plummeted today and the euro hit a new four-year low. The euro fell as low as $1.2146 before rebounding slightly.

Markets worldwide have been tracking the euro lower in recent weeks. The euro is seen as a proxy for confidence in Europe’s economy.

Dow Jones industrial average futures are down 93, or 0.9 percent, at 10,397. Standard & Poor’s 500 index futures are down 11.50, or 1 percent, at 1,107.20, while Nasdaq 100 index futures are down 22.50, or 1.2 percent, at 1,865.50.

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