Wall Street: Still seeing red
Futures point to losses at the open after Apple outlook disappoints; investors can't shake recession fears.
LONDON†(CNNMoney.com) -- Wall Street looked set to take another beating Wednesday, as investors reacted to a disappointing outlook from Apple and remained haunted by recession fears.
At 5:32 a.m. ET, Nasdaq and S&P futures were lower, suggesting losses at the start of trading.
Global stocks have been on a crash course, plunging on worries about a U.S. slowdown. The market rout mostly ended Wednesday as Asian stocks rebounded, although European markets fell in morning trading.
An emergency rate cut the Fed made Tuesday has helped some of the worries hanging over investors worldwide, but there are still concerns that the Fed's dramatic move won't be enough to stave off an economic downturn in the world's largest economy.