US STOCKS-Futures point to slight rebound after selloff
* S&P 500 coming off biggest one-day drop in two months
* Energy shares in view after sharp decline on Tuesday
* Futures up: Dow 42 pts, S&P 6.75 pts, Nasdaq 10.75 pts (Updates prices)
By Ryan Vlastelica
NEW YORK, March 11 (Reuters) - U.S. stock index futures were slightly higher on Wednesday, implying a modest rebound from a sharp decline in the previous session, though questions remain about when the Federal Reserve would adjust its rate policies.
Wall Street fell sharply on Tuesday, with the S&P 500 suffering its biggest one-day decline in two months, a drop that surpassed a selloff of similar magnitude on Friday. The benchmark index is down about 2.7 percent over the past three sessions, while the CBOE Volatility index, a measure of investor anxiety, is up almost 19 percent over that period.
The weakness has come on the increasing view the Fed may raise interest rates as soon as June. Those worries pushed the U.S. dollar to a nearly 12-year peak against the euro on Tuesday, and added to concerns the dollar will continue to weigh on U.S. multinationals' earnings.
The U.S. dollar index stayed strong on Wednesday, up 0.8 percent. The index has risen in five of the past six sessions, up more than 4 percent over that period. The euro fell 1.1 percent and hit a 12-year low.
Despite the recent weakness, which took the Dow and S&P into negative territory for the year on Tuesday, the S&P is just 3.5 percent from a record close hit earlier this month. It is also about four points away from its 100-day moving average of 2,040.27. If the S&P breaks below that level, that could be a weak medium-term momentum signal. Continuación...