June 4, 2012 / 2:17 AM / 7 years ago

UPDATE 1-US STOCKS-Futures dip after Friday's big selloff

* Futures down: S&P off 0.76 pt, Nasdaq 0.75 pct (Updates prices)

June 3 (Reuters) - U.S. stock index futures slid on Sunday in electronic trading after Friday’s selloff, the biggest percentage drop for the year for stocks, as worries over the deepening euro zone debt crisis threaten to extend recent market weakness.

S&P 500 futures fell 9.7 points, or 0.76 percent, to 1,264.20, pointing to a dip at the open on Monday morning, and Nasdaq 100 futures lost 18.50 points, or 0.75 percent, to 2,436.50.

U.S. stocks fell more than 2 percent on Friday, dragging the Dow into negative territory for the year after a dismal U.S. jobs report added to fears that Europe’s spiraling debt crisis was dragging down the world economy.

Futures were headed lower in tandem with selloffs in Asia, where Japan’s Nikkei 225 Index index was down 2 percent and Hong Kong’s Hang Seng fell 2.4 percent.

The debt crisis and subsequent austerity measures have severely curtailed growth in the euro zone, with large economies including Spain and Italy struggling to reduce their debt load while instituting big structural changes in their economies.

“The sentiment backdrop continues to grow more pessimistic and remains consistent with negativity seen at major bottoms during corrective pullbacks the last few years. Hedge funds are no longer showing interest in stocks,” said Todd Salamone, director of research for Schaeffer’s Investment Research in Cincinnati.

Germany, the euro zone’s largest economy, is pushing its partners for a central authority to manage euro area finances, and major new powers for the European Commission, European Parliament and European Court of Justice. Until then it does not want to agree to euro-zone bonds that would lower the cost of funding for already indebted nations. (Reporting by David Gaffen; Editing by Jan Paschal and Richard Pullin)

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