U.S. stock index futures pointed to a lower open on Wall Street on Wednesday, as the Federal Reserve's gloomier assessment of the economy rattled investors and the central bank's measures to support the fragile recovery failed to reassure world markets.
At 4:23 a.m. ET, futures for the S&P 500 were down 1.1 percent, Dow Jones futures down 0.97 percent and Nasdaq 100 futures down 1.12 percent.
European stocks were down 0.8 percent in morning trade, led lower by banks such as Societe Generale
The dollar fell to an eight-month low versus the yen on Wednesday as traders pared back on risk following the decision from the Fed to invest proceeds from mortgage backed securities into government debt.
German Bund futures hit a record high on Wednesday, keeping pace with a rally in U.S. Treasuries sparked by the Fed's move.
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Economic data on tap on Wednesday includes June international trade, while on the earnings front, companies scheduled to report quarterly results on Wednesday include Macy's Inc
U.S. stocks fell on Tuesday but closed off their lows after the Federal Reserve said it would take new steps to counter a weak recovery. The Dow, which was down about 100 points before the Fed's announcement, briefly turned positive, though buying interest waned on the Fed's more pessimistic assessment of the economy.
The Dow Jones industrial average <.DJI> was down 54.50 points, or 0.51 percent, at 10,644.25. The Standard & Poor's 500 Index <.SPX> was down 6.73 points, or 0.60 percent, at 1,121.06. The Nasdaq Composite Index <.IXIC> was down 28.52 points, or 1.24 percent, at 2,277.17.
(Reporting by Blaise Robinson; Editing by Jon Loades-Carter)