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 Dow futures expiring in September tumbled 114, or 0.90 percent, to 12,830, while S&P 500 futures dropped 14.00, or 0.98 percent, to 1,410.50. Nasdaq 100 index futures fell 14.00, or 0.75 percent, to 1,842.50.
In Asia, Japan's Nikkei stock average plummeted 5.42 percent as the yen continued its climb against the dollar, suggesting some investors may be pulling out of a trading strategy referred to as the yen carry trade
-- using the Japanese currency to acquire higher-yielding assets elsewhere.
In Europe, Britain's FTSE 100 fell 0.33 percent, Germany's DAX index fell 0.56 percent, and France's CAC-40 fell 0.28 percent.
Strong earnings Thursday from Hewlett-Packard Co. did little to placate investors. The Dow component reported third-quarter profit jumped 29 percent on robust demand for personal computers and printer ink, handily beating Wall Street expectations.
Oil prices strengthened in pre-market trading on Friday, rising 62 cents to $71.62 a barrel. Traders have been tracking the path of Hurricane Dean, swirling over the Caribbean and forecast to head west into the Gulf of Mexico
-- where much of the nation's oil installations are housed.
Gold prices rose while the dollar was mixed against major world currencies.
Wall Street might see added volatility on Friday due to the pending expiration of August options contracts. A stock option gives the buyer the right, but not the obligation, to buy or sell a stock at an agreed-upon price within a certain period.
[Associated Press; by Lauren
Villagran]
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