A dearth of good news for the economy – other than President Obama's proposed business tax cuts and infrastructure investment plan – led to a fall in U.S. stock index futures and the dollar. European debt woes also resurfaced, as economists criticized the European Union banking stress tests.
Dow Jones Industrial Average index futures slipped 76 points to 10,360, while S&P index 500 futures dropped 10.3 points to 1,093.2 at 10:15 a.m. EST.
Nasdaq 100 futures lost 8 points to 1,859, and across the Atlantic, FTSE 100 index futures slipped 35 points to 5,395.
Asian equities performed better, with Hong Kong's Hang Seng index futures gaining 16 points to 21,369, reflecting manufacturing and economic growth along the Pacific Rim that outpaced expectations.
The dollar, meanwhile, slipped against the yen, while the euro fell compared to both currencies. Indeed, a flight to safety drove immense demand for the yen, which gained against sixteen other currencies.
"Banks still face problems in regards to their capital ratios," Michael Koehler, head of strategy at Landesbank Baden-Wuerttemberg in Germany, told Bloomberg News. "Investors will keep worrying about a possible double dip in the next few weeks."
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