NEW YORK (AP) ? Stock futures are sharply lower amid growing concerns that Italy’s debt levels are unsustainable.
Italian bond yields spiked above 7 percent Tuesday, a sign that investors are losing faith in the country’s ability to repay its debt. Analysts say Italy will not be able to refinance its debt at current rates, making it more likely to require international assistance.
In the U.S., the government will issue the September wholesale trade report, which may give clues to the pace of factory production. Macy’s and Wendy’s will report their quarterly results before the market opens.
Dow futures were down 213 points, or 1.8 percent, to 11,910 two hours before the opening bell. S&P 500 futures fell 28, or 2.2 percent, to 1,245. Nasdaq 100 futures lost 44, or 1.8 percent, to 2,350.