U.S. equity futures are indicating a negative open as Eurozone sovereign debt fears further gripped the markets today.
June S&P 500 contracts traded as low as 1319 before finding a slight bid after the European Commission hinted that it might provide aid to struggling banks. The futures are now down 7.75 points, or 0.56 percent, to 1325.75. The Nasdaq 100 futures are lower by 15.25 points, or 0.61 percent, to 2543.25 after trading as low as 2531.
European indexes are predictably lower, led by a 1.33 percent loss in the U.K. FTSE 100. Germany's DAX is not far behind, off 0.71 percent to 6,351.23 as of this writing.
Asia indexes fell as well, with Hong Kong's Hang Seng leading the weakness with a 1.92 percent decline. Japan's Nikkei 225 pared much of its earlier losses to close 0.28 percent lower.
In commodity markets, crude oil dropped 2 percent to 88.94, its lowest level in nearly four months, before finding a slight bid. Oil is currently trading for 89.56, off 1.3 percent at the time of this writing.
Copper is down 1.24 percent to 3.419 after support gave way. Spot gold futures are higher by 5.60 points, or 0.37 percent, to 1557.10 after trading as low as 1546 overnight. Silver futures are unchanged at 27.80 after falling to 27.484 before the European commission rumors began circulating.
Shares of Facebook continue to slide, with shares are indicated down 0.86 percent to $28.60 in pre-market trading. LinkedIn is trading higher, however, after Citigroup recommended buying shares as the company may reach its price target of $125 a share.
Research In Motion is sharply lower after announcing that it will likely report an operating loss for the first quarter.
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