US stock futures down; Greek worries continue

NEW YORK (AP) ? U.S. stock market futures followed world markets lower Tuesday as the latest deadline in the Greek debt crisis approached.

A day after markets sank in response to China trimming its growth forecast, attention turned back to Greece.

The question now is how many private creditors will accept planned bond swaps that are part of the latest bailout package for the troubled nation. Banks and other creditors have until Thursday night to decide whether or not they will participate, and success depends on a high percentage taking part.

Otherwise, Greece could default on a key bond payment on March 20

Dow Jones industrial average futures are down 92 points to 12,869. Standard & Poor's 500 futures are slipping 10.5 points to 1,353.90. Nasdaq composite index futures are off 19 points to 2,597.

Greece faces a $19.2 billion payment on a maturing bond on March 20. If the swap is successful, the country will not have to pay that amount on that date.

Uncertainty over the acceptance rate helped weigh down European markets.

The declines were tempered a bit by falling oil prices, even though the drop was triggered by slowing demand. Oil fell to almost $106 per barrel, but declines were tempered by lingering concern over Iran's nuclear program.

Crude has risen from $96 last month amid fears of a disruption in global oil supplies driven by the potential for military conflict with Iran.

U.S. stocks to watch include Monster Worldwide Inc., whose shares jumped premarket after the online job search company said it has hired advisers to help it consider strategic alternatives, language typically used when a company is considering selling itself.

And Chesapeake Energy Corp. said it is teaming up with investment firm Kohlberg Kravis Roberts & Co. to invest in new oil and gas technologies in the U.S.

Source: http://news.yahoo.com/us-stock-futures-down-greek-worries-continue-133909741.html

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