Futures Tank Amid More Banking Concerns

Stock futures fell Friday as a plunge in shares of Deutsche Bank in Europe raised investor fears about the banking sector once again.

Futures for the Dow Jones Industrials collapsed 331 points, or 1%, early Friday to 31,988.

Futures for the S&P 500 fell 34.5 points, or 0.9%, to 3,943.50.

Futures for the NASDAQ Composite retreated 66.5 points, or 0.5%, to 12,787.50.

For the week, the Dow and S&P 500 are up around 0.8% each, while the NASDAQ has gained 1.4% through Thursday’s close.

Deutsche Bank’s U.S.-listed shares slid about 11% in the premarket after the German lender’s credit default swaps jumped, but without an apparent catalyst. The move appeared to raise concerns once again over the health of the European banking industry. Earlier this month, Swiss regulators forced a UBS acquisition of rival Credit Suisse.

Shares of major U.S. banks were also under pressure. Bank of America, JPMorgan Chase and Wells Fargo fell more than 2% each. Meanwhile, Citigroup fell more than 3%.

In Japan, the Nikkei 225 slipped 0.1% Friday, while in Hong Kong, the Hang Seng fell 0.7%.

Oil prices ducked $2.53 to $67.43 U.S. a barrel.

Gold prices climbed $8.50 to $2,004.50 U.S. an ounce.