Yahoo Finance Stocks - U.S. Futures Fall as Turkey Crisis Continues
Investing.com - U.S. futures pointed to a lower opening bell on Monday, as the economic crisis in Turkey rattled global markets.
The S&P 500 futures fell 7 points, or 0.26%, to 2,829.50 as of 6:50 AM ET (10:50 GMT) while Dow futures slumped 74 points, or 0.29%, to 25,257.0. Meanwhile tech heavy Nasdaq 100 futures decreased 19 points, or 0.26%,to 7,407.50.
The Turkish lira was slightly higher on Monday after Turkey’s central bank pledged to provide liquidity and cut reserve requirements for Turkish banks. The lira had fallen to fresh lows over the weekend as the country’s diplomatic spat with the U.S. and Turkish President Tayyip Erdogan’s control over the economy spooked investors.
Intel (NASDAQ:INTC) was among the top gainers in pre-market trading, rising 0.31% while Campbell Soup Company (NYSE:CPB) surged 2.30%.
Elsewhere, Tesla (NASDAQ:TSLA) was down 0.43% after investors sued CEO Elon Musk for allegedly manipulating the share price after tweeting that he had secured funding to take the company private. Wells Fargo (NYSE:WFC) fell 1.03%, while Facebook (NASDAQ:FB) dipped 0.63% and Netflix (NASDAQ:NFLX) decreased 0.25%.
In Europe stocks were lower, as banks fell over concerns of their exposure to Turkey. Germany’s DAX fell 71 points or 0.58% while in France the CAC 40 decreased 16 points or 0.31% and in London, the FTSE 100 was down 43 points or 0.57%. Meanwhile the pan-European Euro Stoxx 50 lost 17 points or 0.52% while Spain’s IBEX 35 slumped 105 points or 1.10%.
In commodities, gold futures fell 0.81% to $1,209.10 a troy ounce while crude oil futures were down 0.22% to $67.48 a barrel. The U.S. dollar index which measures the greenback against a basket of six major currencies, rose 0.09% to 96.28.
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