US futures slide as Italian debt worries grow


November 9, 2011 at 9:27a.m.

US futures slide as Italian debt worries grow

NEW YORK (AP) - Stock futures fell sharply today amid growing concerns that Italy’s debt levels are unsustainable. Italian bond yields spiked above 7 percent, a sign that investors are losing faith in the country’s ability to repay its debt. Analysts say Italy will not be able to refinance its debt at current rates, which will force it to either enact deep austerity measures or to receive financial assistance to prevent a default.