Re: Market News
Stock futures hit geopolitical snag
Trade lower after Putin threatens to train missiles on Europe, Chinese stocks tumble again on ongoing tax fears; private equity deal makers at it again.
June 4 2007: 7:20 AM EDT
NEW YORK (CNNMoney.com) -- Stock futures were lower Monday following threats from Russia to train its missiles on targets in Europe and another slide in the Chinese stocks over continued tax concerns.
Stock futures were down in early trading, pointing to a lower open. Both the Dow and the S&P 500 closed at fresh record highs Friday following a string of solid economic reports.
International news was in focus Monday, although global reaction was mixed.
Major markets in Europe fell with the European autos sector leading the declines and partly due to Russian President Vladimir Putin's tough talk. As the G8 summit gets underway this week, Putin said Russia would aim missiles at targets in Europe if the U.S. went forward with plans to station a missile defense system on the continent.
Markets in Asia brushed off an 8 percent tumble in Chinese shares on continued worries over an investment tax meant to curb the red-hot economy. Markets in both Japan and Hong Kong traded higher.
http://money.cnn.com/2007/06/04/mark...atch/index.htm
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