US STOCKS-Futures fall sharply on Portuguese, Italian woes

jueves 10 de julio de 2014 07:54 GYT

* Portuguese, Italian markets slide, weigh on Europe

* Jobless claims, wholesale data due

* Lumber Liquidators tumbles after revised outlook

* Futures slide: Dow 138 pts, S&P 17 pts, Nasdaq 33 pts

NEW YORK, July 10 (Reuters) - U.S. stock index futures fell sharply on Thursday as European shares tumbled on growth concerns after weak data out of Italy and concern over the health of Portugal's top listed bank.

* With U.S. stocks trading near record highs, the selloff in Europe will probably raise red flags and entice shorts who have been shut out of the market. Many market participants have called for a pullback, with the steady S&P 500 yet to see a daily decline of 1 percent or more since April 10.

* Espirito Santo Financial Group, the largest shareholder in Portugal's Banco Espirito Santo, suspended trading in its shares and bonds, citing "material difficulties" at parent company ESI. Shares of the bank fell 17.2 percent.

* Italian industrial output dropped 1.2 percent month-on-month in May, its steepest monthly fall since November 2012, casting doubt over prospects for the country's economic recovery.

* Portugal's main stock index fell 4.5 percent and Italy's FTSE MIB fell 2.6 percent. An index of European bank shares was down 2.8 percent. U.S. banks will likely fall on concerns over exposure to Europe.   Continuación...