8:00AM EST: U.S. stock futures pointed to another horrendous drop Friday, as a wave of profit warnings sent stocks plunging in Asia and Europe.

December futures in the Dow Jones Industrial Average and S&P 500 both fell by the maximum amount allowed, a further sign of extreme market stress.

More than two hours before the start of trading, S&P futures remained locked at 855.2, a fall of 60 points. DJIA futures, earlier at limit down at 8224, a 550-point fall, were seeing intermittent trade a few points above this level.

(Wall Street Journal)