Dow futures falling after rocky day in Europe
Wall Street appeared headed for its fourth straight day of losses after a rocky day in Europe.
Dow futures were down 20 points following drops in London's benchmark index (0.6 percent), Germany's (0.7 percent) and France's (1 percent) despite good news from the 16 countries that use the euro. Spanish and Greek bonds fell. And oil prices remained stuck at $76 a barrel, unable to make up for three days of losses.
The eurozone economies grew at 1 percent during the second quarter--the fastest rate in four years. Analysts had forecast a 0.7 percent rise. Europe's biggest economy, Germany, grew at 2.2 percent, its strongest pace since the country's unification.
But investors in Europe seemed more preoccupied with the state of the United States economy as they awaited the release of July retail sales and consumer confidence numbers this morning.
World markets have been in turmoil this week on worries that growth in two of the world's biggest economies--the U.S. and China--is slowing down.
Ariana Eunjung Cha
August 13, 2010; 8:03 AM ET
Categories: International Economics
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