RTRS: US STOCKS-Futures sink on gloomy outlooks, slump fears
NEW YORK, Nov 26 (Reuters) - U.S. stock index futures extended losses on Wednesday as disappointing outlooks from companies including luxury jeweler Tiffany & Co (TIF.N: Quote, Profile, Research, Stock Buzz) and trash hauler Waste Management (WMI.N: Quote, Profile, Research, Stock Buzz) heightened fears about the deepening economic slump.
News that Toyota (7203.T: Quote, Profile, Research, Stock Buzz) has had its top-notch credit ratings cut for the first time in a decade added to the nervousness. For details, see [ID:nT14411]
S&P 500 futures SPc1 fell 16.40 points and were below fair value, a formula that evaluates pricing by taking into account interest rates, dividends and time to expiration on the contract. Dow Jones industrial average futures DJc1 declined 136 points, and Nasdaq 100 NDc1 shed 8.25 points. (Reporting by Ellis Mnyandu; Editing by Kenneth Barry)
