US futures tumble as outlook in Europe dims
NEW YORK (AP) -- U.S. stock futures are falling with the stability of the European Union tenuous and borrowing costs for Spain hitting the highest levels since the country joined the euro.
That is dragging on U.S. bank stocks in premarket trading. Clothing maker HanesBrands said Wednesday that it would cut all exposure to Europe.
Dow futures are down 82 points to 12,501. The broader S&P 500 futures are skidding 8.3 points to 1,325.1. Nasdaq futures are down 16.25 points to 2,543.25.
The European Union says confidence across Europe fell sharply this month. The EU's economic sentiment indicator is hitting the lowest level in two and a half years, which is worse than expected.
U.S. corporations have been stung by deteriorating conditions in Europe. HanesBrands Inc. said Wednesday it will eliminate all exposure there.
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