Fears hang over Wall Street
Stocks poised for rough start as recession anxiety grows; dollar drops anew, overseas stocks tumble.
LONDON (CNNMoney.com) -- Stocks looked set for a weak open Monday as investors eyed another drop in the dollar and economic concerns weighed on overseas markets.
At 4:41 a.m. ET, Nasdaq and S&P futures were lower, with a comparison to fair value pointing to a negative start for Wall Street.
The dollar fell to a three-year low against the yen and declined versus the euro as traders bet the Federal Reserve would aggressively cut rates at its meeting next week.
Expectations for more Fed cuts were raised after the government reported Friday that employers cut 63,000 jobs in February, the biggest monthly cut in five years. The weak reading on the labor market sent stocks to their worst levels in nearly 18 months.
The worries carried over to global markets. Most Asian markets tumbled, with Japan stocks closing at a 2-1/2 year low. European shares fell in morning trading. 
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