NEW YORK (Reuters) - Stock index futures fell on Tuesday after the U.S. Federal Reserve announced its fourth-quarter term auction schedule, unnerving investors who anxiously await signs of some coordinated response by global central banks to unfreeze the credit markets.
Initially futures had risen on speculation that global central banks might mount a coordinated response to calm jittery markets and thaw the credit freeze.
S&P 500 futures fell 2.9 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 dropped 26 points and Nasdaq 100 futures slipped 1.80 points.
(Reporting by Ellis Mnyandu)
