Stock Futures Slide on Greece Default Concerns
NEW YORK (TheStreet) -- Stock futures were pointing to a steeply lower open Tuesday, extending the previous session's losses, as Greece's call for a referendum on its eurozone bailout package reignited fresh concerns that the country will default on its debts.
Futures for the Dow Jones Industrial Average were down 240 points, or 242 points below fair value, at 11,857. Futures for the S&P 500 were losing 38 points, or 38 points below fair value, to 1211, and Nasdaq futures were off by 55 points, or 55 points below fair value, at 2301.
Stocks remained stuck in negative territory throughout Monday's session as investors took profits at the end of one of the strongest monthly performances for stocks in recent years. The Dow gained nearly 1,042 points in October, marking the largest point advance in its history. On a percentage baisis, the average rose 9.5% -- its best monthly percentage performance since October 2002, according to Dow Jones Indexes.
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