Stock futures point to plunge on Wall Street

[August 17, 2009]  DALLAS (AP) -- Wall Street looks to plunge at the opening of trading as investors around the world feared that consumers are too anxious to help lift the economy into recovery.

U.S. stock futures are sharply lower Monday after overseas markets extended the heavy selling that began on Wall Street Friday. That pullback followed a weaker than expected reading on consumer confidence.

The Shanghai stock market has fallen 6 percent and the major indexes in Europe are all down more than 1.5 percent.

Oil prices also continued to fall sharply, reflecting the growing concerns about a weak economy that will curtail demand for energy.

Dow Jones industrial average futures are down 176, or 1.9 percent, at 9,145. Standard & Poor's 500 index futures are down 20.90, or 2.1 percent, at 984.90., while Nasdaq 100 index futures are down 28.25, or 1.8 percent, at 1,586.75.

[Associated Press; By IEVA M. AUGSTUMS]

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