NEW YORK (AP) — Stock futures are following global markets into negative territory for a second day with investors again sizing up the myriad of economic challenges ahead.
Markets rallied sharply last week after the Federal Reserve announced aggressive measures intended to kick-start the economy. However, it appeared that the reasons for an intervention by the central bank, anemic global economic growth, returned solidly to the forefront this week.
Dow Jones industrial futures are down 28 points to 13,442. The broader S&P futures have given up 2.7 points to 1,451.30. Nasdaq futures are down 3.75 points to 2,842.50.
Underscoring a painstakingly slow recovery from the recession, FedEx sharply cut its outlook Tuesday for the entire year citing "weakness in the global economy."
Shares of FedEx Corp. slid 2 percent before the market opened.