Wall Street faces bleak day
Dow futures fall sharply as dollar plunges, oil prices hold near record highs; overseas markets fall sharply.
LONDON (CNNMoney.com) -- Stocks looked set for declines Thursday as investors eyed another plunge in the dollar and watched global markets plummet.
At 5:01 a.m., Dow futures were sharply lower, pointing to a negative start for blue-chip stocks.
The dollar sank to a 12-year low versus the yen and another record low against the euro amid ongoing worries about U.S. economic slowdown.
The weak dollar boosted oil prices, which held near a record $110 a barrel in electronic trading.
Global stocks dived on worries about a deep U.S. recession. Asian markets tanked and European shares tumbled in early trading. 
