World Stocks In Free-Fall, U.S. Futures Follow

World stocks are under heavy pressure today and the weakness is spreading to the U.S., with futures under considerable pressure.

The weakness is tied to more European debt contagion fears and growing tensions in Korea.

In Asia, the Shanghai Composite fell 1.9% and Hang Seng fell 3.5%. The Nikkei 225 fell 3.06%.

In Europe, the CAC 40 is down 3.6%, the DAX is down 2.6% and ATX is down 4.1%.

U.S. stocks futures are lower across the board, with the DJIA down 224, the S&P 500 down 28.60, and Nasdaq 100 down 42.

In Spain, four Spanish banks reached a deal to merge as regulators seek to strengthen the banking sector.

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