Stocks set to fall as protests in Libya intensify

[February 22, 2011]  NEW YORK (AP) -- Stocks are headed for a sharply lower opening as investors become increasingly concerned about violent protests in Libya.

The uprising sent oil prices up 7 percent to $96 a barrel Tuesday. Libya is the world's 18th largest oil producer. It also sits atop the largest oil reserves in Africa. A U.N. agency estimates at least 250 people have been killed in Libya's unrest.

In the U.S., major retailers such as Wal-Mart Stores Inc. and Home Depot Inc. are reporting higher earnings results.

Ahead of the opening bell Tuesday, Dow Jones industrial average futures are down 84 points, or 0.7 percent, at 12,291. Standard & Poor's 500 index futures are down 15, or 1.2 percent, at 1,327. Nasdaq 100 index futures are down 32, or 1.4 percent, to 2,363.

[Associated Press; By CHIP CUTTER]

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