By Ryan Vlastelica
NEW YORK (Reuters) - Stock index futures fell on Wednesday, mirroring European shares on concerns over the teetering state of Spanish banks.
Spain will demand banks set aside another $45 billion against loans to builders as it battles to rebuild confidence, sources told Reuters. Huge bank losses have raised fears the country may need an international bailout.
U.S.-listed shares of Banco Santander SA
The situation in Europe has been a primary driver for Wall Street this week as the corporate earnings season winds down and there are few domestic economic indicators that could influence equities.
The S&P 500 <.SPX> is down 2.4 percent so far this month while the Dow <.DJI> has fallen for five straight sessions.
Possible fallout after elections in Greece has also dented sentiment. Leftist leader Alexis Tsipras was to meet the heads of Greece's mainstream parties Wednesday to try to form a coalition government. But the effort was not expected to succeed after he demanded they first agree to tear up the country's EU/IMF bailout deal.
European shares were off 1.1 percent early Wednesday. <.EU>
S&P 500 futures fell 12.8 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 86 points, and Nasdaq 100 futures lost 23.75 points.
Walt Disney Co
With 434 of S&P 500 companies reporting results as of Tuesday morning, 66.8 percent exceeded estimates, according to Thomson Reuters data. At the start of the earnings season, more than 80 percent had beaten expectations.
Major companies on tap to report Wednesday included Cisco Systems Inc
Yahoo Inc
The S&P 500 fell through support at 1,350 in Tuesday's decline, reaching levels not seen since early March, but buyers emerged late in the session and Wall Street ended off its worst lows.
(Editing by Jeffrey Benkoe)
