Stocks, commodities fall across board
Evan McDaniel | firstname.lastname@example.org
S&P 500 futures are lower by 13.75 points, or 1.01 percent, to 1344.50 at the time of this writing. Nasdaq 100 futures are down 1.18 percent, or 30.50 points, to 2582.75.
European equity indexes are falling as well after concerns over Greece's ability to repay its debt obligations sent investors and traders running into less-risky assets. Investors are fleeing the Spanish bond market on worries that bailout funds may not be large enough, sending yields to euro-era highs
The euro hit a new two-year low 1.209 and is now trading at 1.2123, still a loss of 0.36 percent. The Euro STOXX 50 is down 2.12 percent, while the German DAX and the U.K. FTSE 100 are both lower by 1.7 percent.
Asian indexes declined even more in some regions amid continuing fears over the Chinese economy slowdown. Hong Kong's Hang Seng plunged 2.99 percent, while Japan's Nikkei 225 shed 1.86 percent.
Commodities are following stocks lower, led by a 2.62 slide in copper to 3.3575. Crude-oil futures are down 3.06 percent to 89.09, below the 90 support level, after trading as low 88.40 earlier this morning. Spot gold futures are falling 14 points to 1570.60 after the important 1578 support level failed last night.
Shares of U.S. banks are expectedly lower as the Eurozone issues rock global markets. Bank of America is indicating that it will open below $7; Goldman Sachs is lower by more than $1.50 to $92.57; and Citigroup is off more than $0.50 to $25.30.
There are also a number of acquisitions this morning, the largest of which is a $15.1 billion buyout of Nexen by China's Cnooc. That has sent shares of NXY soaring more than 54 percent.
Shares of Apple are indicating a lower open below $596, a decline of more than $8.