U.S. stock futures show sharp declines
Dec. 30, 2012, 2:01 p.m. EST
By MarketWatch
Shortly before 2 p.m. Eastern Sunday, U.S. stock futures were showing sharp declines. Futures for the Dow were off 226 points, while S&P 500 futures were down more than 26 points. Nasdaq futures were off 36.50. Earlier Sunday, President Barack Obama warned, in a televised interview, that if Congress is unable to reach a deal to extend tax cuts before a Tuesday deadline, the U.S. financial markets will likely bear the brunt of the so-called fiscal cliff. Investors are set to return to a holiday-shortened trading session Monday, following a down day for the market on Friday. U.S. stock markets will close at 1 p.m. Easterm Monday, and will remain closed Tuesday for the New Year's holiday.