NEW YORK (AP) — Fresh concerns about Europe’s sovereign debt crisis are rattling markets. Stock futures are falling after the ratings of a major European bank were cut.
Fitch Ratings has slashed its view on BNP Paribas SA, the largest bank in the eurozone by deposits. That is renewing worries that have plagued global markets in recent months. Traders are concerned that mounting sovereign debt across Europe will disrupt a global economic recovery and lead to a fresh round of losses for banks holding sovereign debt.
Dow Jones industrial average futures are down 38, or 0.4 percent, at 10,358. Standard & Poor’s 500 index futures are down 5.30, or 0.5 percent, at 1,105.30, while Nasdaq 100 index futures are down 9.50, or 0.5 percent, at 1,890.00.
