Thursday, May 23, 2013

Global markets swoon in wake of Fed comments

MADRID (MarketWatch) — U.S. stock market futures fell sharply Thursday, as fears over a tapering of the Federal Reserve’s bond-buying program continued to play out. Those worries and weak China data led to heavy losses for global stocks, with Japan equities suffering their biggest one-day loss in more than two years.

Data will also be key for investors, with U.S. jobless claims expected to drop back down after a surprising spike the prior week, sales of new family homes, and house prices.

Futures for the Dow Jones Industrial Average DJM3 -0.67% fell 146 points, or 1%, to 15,172, while those for the Standard & Poor’s 500 index SPM3 -0.82% slid close to 20 points, or 1.2%, to 1,635.50. Futures for the Nasdaq 100 index NDM3 -0.82% fell 35.50 points, or 1.2%, to 2,965.50.