Wall Street Might Open In Negative Territory

Fears of a U.S. and European ban on Russian oil and the latest developments in Ukraine are likely to remain in focus on the day.

Asian shares finished lower, while European shares are trading down.

Early signs from the U.S. Futures Index suggest that Wall Street might open lower.

As of 7.15 am ET, the Dow futures were declining 249.00 points, the S&P 500 futures were sliding 26.50 points and the Nasdaq 100 futures were losing 103.00 points.

The U.S. major averages climbed off their worst levels on Friday but still closed firmly in negative territory. The Dow fell 196.86 points or 0.5 percent to 33,614.80, the Nasdaq tumbled 224.50 points or 1.6 percent to 13,313.44 and the S&P 500 slid 34.62 points or 0.8 percent to 4,328.87.

On the economic front, the Investor Movement Index for February will be issued at 12.30 pm ET. In the prior month, the Index was at 7.07.

Consumer Credit for January will be published at 3.00 pm ET. The consensus is for $21.5 billion, while it was up $18.9 billion in the prior month.

A six-month Treasury Bill auction will be held at 11.30 am ET.

Asian stocks plunged on Monday. Chinese shares fell on the day. The benchmark Shanghai Composite index dropped 74.79 points, or 2.17 percent, to 3,372.86.

Hong Kong stocks plunged to their lowest level in more than five years. The Hang Seng index plummeted 847.66 points, or 3.87 percent, to 21,057.63.

Japanese shares ended deep in the red. The Nikkei average fell 764.06 points, or 2.94 percent, to settle at 25,221.41. The broader Topix index ended 2.76 percent lower at 1,794.03.

Australian markets hit a one-week low. The benchmark S&P/ASX 200 dropped 72.20 points, or 1.02 percent, to 7,038.60. The broader All Ordinaries index ended down 74.10 points, or 1.0 percent, at 7,321.20.

European shares are trading lower. CAC 40 of France is down 89.28 points or 1.47 percent. DAX of Germany is declining 233.35 points or 1.78 percent. FTSE 100 of England is sliding 52.42 points or 0.75 percent. Swiss Market Index is declining 199.79 points or 1.75 percent. Euro Stoxx 50 is down 0.47 percent at 3,537.68.

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