Futures Sink on U.S. and European Debt Problems

[Stocks-to-Watch]

European stocks fell hard on Monday and U.S. equities were poised to follow them down, as investors continued to focus on Europe’s debt problems, and the congressional supercommittee charged with cutting U.S. debt appears to be on the brink of failure. The German DAX dropped 2% and France’s CAC 40 was off 2.1%. Moody’s said that France’s AAA rating might be in jeopardy,

Dow futures fell 142 points to 11,625; S&P 500 futures fell 15.9 points to 1,198.

Pharmasset (VRUS) soared 85% after agreeing to be bought by Gilead Sciences (GILD).



Original Article Source by Barrons.com