Stock futures flat in pre
U.S. stock futures were struggling to eke out gains Friday following Wall Street's big selloff in the prior session amid ongoing angst over tensions in Ukraine and economic weakness in China.
Ahead of the opening bell, Dow Jones industrial average index futures were unchanged. Standard & Poor's 500 index futures rose 0.1% and Nasdaq index futures added a similar amount.
The Dow has finished lower every day this week and is trying to avoid its first five-day weekly decline since May 2012.
Wall Street is also watching to see if the S&P 500 can regain the key 1850 level, which gave way in Thursday's 1.2% rout.
Asian stocks declined on lingering concerns about a slowdown in China and tensions in Ukraine ahead of a vote Sunday that could lead to Crimea breaking away from Ukraine and likely economic sanctions imposed against Russia.
'There seems to be a real trend toward reducing risk in the market right now, as more and more uncertainty surrounds the Ukraine situation and China's economic growth outlook,' noted Schaeffer Investment Research's senior equity analyst Joe Bell. 'In a natural rotation, we are seeing investors trade out of U.S. equities while cash flow moves into gold and bonds.'
Money has been pouring back into U.S. government bonds this week. The yield on the 10-year Treasury, which moves in the opposite direction of price, dipped to 2.65% Thursday, down from 2.79% at the end of last week.
Japan's Nikkei 225 tumbled nearly 3.3% to 14,327.66. China's Shanghai composite index fell 0.7% to 1,996.25. European bourses declined. Britain's FTSE 100 index fell 0.3% and Germany's DAX 100 index dipped 0.5%.
On Wall Street on Thursday, the Dow slid 1.4% to 16,108.89. The S&P 500 fell 1.2% to close at 1,846.34. The Nasdaq composite dropped 1.5% to 4,260.42.
Oil prices edged higher. Benchmark crude for April delivery was down 1 cent to $98.19 a barrel in electronic trading on the New York Mercantile Exchange. The contract rose 21 cents to close at $98.20 on Thursday.
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