U.S. Stocks Weak On Continued World Mayhem

Continued weakness and concerns related to the European debt crisis continues to rock U.S. stocks. Futures are down sharply, indicating a much lower opening here.

DJIA futures down 165 to 10,240, S&P futures down 21.40 to 1088.50, and Nasdaq 100 down 32.75 to 1835.50.

In addition to the European issues, the jobs picture in the U.S. showed signs that a significant recovery is still far away. Jobless claims came in at 471,000 for the week of May 15, versus the consensus of 440,000.

Also in the spotlight is rioting and civil unrest in Bangkok.

With slowdown fears front and center, crude is lower. The June contract is down 1.78 to 68.09 and the July contract is down 2.28 to 70.20. The 70 level for July is considered significant.

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