Dow Jones Industrial Average futures were down 74 points to 11964, after being down about 125 points in overnight trading. The Dow closed Tuesday up 17 points, after being down as much as 78 points and up as much as 86 points at the intraday extremes.
Standard & Poor's 500-stock index futures slid 8 points to 1246 and Nasdaq 100 futures lost 6 points to 2354. Changes in stock futures do not always accurately predict stock moves after the opening bell.
Europe markets erased earlier sharp gains to turn slightly lower, with the Stoxx Europe 600 down 0.1% after being up 1.2% at its intraday high.
Early optimism faded after Bank of England Governor Mervyn King said the U.K.'s economy could be flat until the middle of next year, adding that he had no idea how the euro zone's debt crisis will eventually be resolved. Meanwhile, the U.K. unemployment rate rose to 8.3% in October, the highest seen since 1996.
Separately, Italian lender UniCredit will reportedly meet with the European Central Bank to ask for more access to funding. Italy's benchmark 10-year yield rose back above the key 7% mark.
Asian bourses were also broadly lower on euro-zone worries, with China's Shanghai Composite shedding 2.5% and Japan's Nikkei Stock Average down 0.9%.
Gold futures fell to nearly $1,774 an ounce, while crude oil futures slipped to about $99 a barrel. The U.S. dollar rose slightly against the euro but ticked lower against the yen.
On the economic calendar, the Consumer Price Index for October is scheduled for release at 8:30 a.m., EST. That will be followed by data on industrials production and capacity utilization for October at 9: 15 a.m., EST, and by the NAHB Housing Market Index for November at 10 a.m., EST.
In corporate news, shares of Dell fell 2.6% after the PC maker beat fiscal third-quarter earnings estimates but missed on revenue. The company added that full-year revenue was tracking at the lower end of a previously-forecasted range given the "uncertain macroeconomic environment" and the complexity in working through the industry-wide hard drive issue.
Abercrombie & Fitch slumped 10% after the apparel retailer missed fiscal third-quarter earnings expectations, citing increases in average unit costs and greater uncertainty about the macroeconomic environment.
Elsewhere, Target tacked on 3.1% after the discount retailer reported fiscal third-quarter earnings and revenue that exceeded forecasts.
Tyco International gained 6.8% after the diversified industrial company reported better-than-anticipated fiscal fourth-quarter earnings and revenue. For the latest updates on the stock market, visit Stock Market Today For the latest updates PRESS CTR + D or visit Stock Market news Today
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