US futures down as jitters about Europe continue

AP News
Posted: Mar 27, 2013 8:25 AM

NEW YORK (AP) — Concern about Cyprus and other nations in the Eurozone is weighing down U.S. stock market futures.

Cyprus is formulating details for reopening its banks after a nearly two-week shutdown, following an international bailout agreement that calls for large deposits to be taxed heavily to help pay for the rescue.

Dow Jones industrial average futures are sliding 69 points to 14,409. Nasdaq 100 futures are down 13 to 2,786.80. S&P 500 futures are off 7.75 to 1,549.50.

Investors are waiting for data on pending U.S. home sales for February, set for release at 10 a.m. Eastern.

In Europe, major indexes fell amid worries that the "bail-in" that taps deposits in Cyprus could be considered a model should other countries falter. Asian stocks rose, following Tuesday's rally in U.S. markets.