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Stock futures tumble as recession, profit worries weigh


    NEW YORK (Reuters) - Stock index futures fell on Wednesday, following declines in Europe and Asia on mounting

    fears of global recession and worry about weak U.S. companies quarterly results.

    S&P 500 futures fell 31 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures were down 242 points, and Nasdaq 100 futures dropped 24.25 points.

    (Reporting by Leah Schnurr; Editing by Kenneth Barry)