European stock index futures point to sharp falls

LONDON (BestGrowthStock) – European stock index (Read more about the euro currency recovery. ) futures pointed to sharp falls on Friday after hefty losses on Wall Street overnight, with fears intensifying that Greece’s debt crisis could spread to other euro zone peripheral countries.

By 0601 GMT, futures for STOXX Europe 50, Germany’s DAX and France’s CAC 40 were down 2.8 to 3.5 percent.

U.S. stocks (Read more about the stock market today. ) plunged 9 percent in the last two hours of trading on Thursday before clawing back some of the losses as a suspected trading glitch and fears of a new credit crunch in Europe threw markets into disarray.

The FTSEurofirst 300 (.FTEU3: ) index of top European shares closed down 1.6 percent at 1,006.66 points on Thursday, the lowest closing level in 10-weeks as shares sank for the third session in a row.

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(Reporting by Harpreet Bhal)

European stock index (Read more about the euro currency recovery. ) futures point to sharp falls