Stock Futures Point to Further Wall Street Losses

On Monday, stocks fell for the fourth session in a row on fear that corporate profit reports will signal a recovery in the economy is further off than originally anticipated. The Dow shed 125 points, and broader stock indexes fell more than 2%. The market's decline Monday followed its worst week since November. However, stocks are still up sharply from their late November lows.

Bond prices slipped. The yield on the benchmark 10-year Treasury note, which moves opposite its price, rose slightly to 2.32% from 2.31% late Monday. The yield on the three-month T-bill, considered one of the safest investments, rose to 0.08% from 0.06% late Monday.

The dollar rose against other major currencies, while gold prices fell.

Light, sweet crude fell $1.17 to $36.42 in electronic premarket trading on the New York Mercantile Exchange.

Asian markets retreated sharply, hurt by reports that Sony(SNE Quote) is sinking into its first yearly operating loss in 14 years as sales fizzle for digital cameras, flat-panel TVs and other gadgets. Japan's Nikkei stock average fell 4.8%. Hong Kong's Hang Seng index dropped 2.2%.

In late morning trading, Britain's FTSE 100 was down 2.3% and Germany's DAX index was down 2.4%.