UNITED STATES

Stock index futures fell sharply on Wednesday, with markets rattled by Germany's decision to ban naked short selling of certain financial instruments and comments from its chancellor that the euro was in danger.

The market remains under pressure as Germany's ban on short-selling activities triggered a new round of panic selling in risky assets. WTI crude oil price extends the 7th-day decline to as low as 67.9, the lowest level since September 30, 2009. The contract has plummeted more than -20% so far in May. Despite a plunge below the OPEC's preferred range of 70-80, Saudi Arabia's financial minister stress that he's not worried about the decline and the country will commit to the planned projects.

Stocks were set to open lower on Wednesday, adding to the previous sessions losses and mirroring weakness in Europe as worries over tighter financial regulation put pressure on equities.

Gold prices eased in Asian trade Wednesday even after reports of a tumbling euro. Gold for immediate delivery was seen trading at $ 1213.75 an ounce at 11.00 a.m Singapore time while U.S. gold futures for June delivery was at 1213.31 an ounce e at the same time.

Carmaker General Motors Co told the United Auto Workers it will no longer pay union employees to leave the company, the Wall Street Journal said.

The euro hit another four-year low on Wednesday and stocks slumped after Germany's move to ban some naked shorting and German Chancellor Angela Merkel said the euro was in danger.

The euro fell to a fresh four-year low on Wednesday after a German move to sharpen financial regulation raised doubts about the prospect for global recovery, pulling down Asian stocks, metals and crude oil.

American International Group has named Henri Courpron as chief executive officer of its aircraft leasing unit, International Lease Finance Corp , the Wall Street Journal said.

Germany banned risky bets on bonds, stocks and credit protection, stunning investors and setting euro zone markets up for a rough ride on Wednesday amid fears Berlin's attack on speculation will backfire.

The euro fell to a fresh four-year low on Wednesday after a German move to sharpen financial regulation raised doubts about the prospect for global recovery, pulling down Asian stocks, metals and crude oil.

The euro fell to a fresh four-year low on Wednesday after Germany moved to sharpen financial regulation, taking down commodities and Asian stock markets in its wake as investors stampeded out of riskier assets.

Hewlett-Packard Co's quarterly results beat expectations and it raised its full-year earnings outlook on demand for personal computers and servers as well as a resurgence in its printing business.

Google Inc Chief Executive Eric Schmidt said on Tuesday his company is prepared to fight the U.S. government very hard if regulators block the search leader's acquisition of mobile advertising firm AdMob.

Bank of America Corp agreed to sell preferred and common shares of Brazil's Itau Unibanco in a deal valued at 8.16 billion reais ($4.5 billion), ending a partnership started in 2006 when the Brazilian bank took over the local unit of FleetBoston Financial.

Regulators still have not been able to pinpoint the cause of the market's recent plunge, but charged ahead with new rules to restrict trading when markets are in free-fall.

Facebook has teamed up with 50 wireless operators to offer cellphone users a stripped-down version of the social networking site that can be accessed without incurring data charges.

The Australian Dollar continued to be sold off overnight on the back of a weaker EUR while equity markets had a mixed night.

Regulators still have not been able to pinpoint the cause of the market's recent plunge, but charged ahead with new rules to restrict trading when markets are in free-fall.

JPMorgan Chase & Co shareholders rejected a proposal to strip Chief Executive Jamie Dimon of his chairman title, but they gave him a hard time at the bank's annual meeting on Tuesday.

The Senate voted to give state authorities a role in enforcing new bank consumer protection rules as lawmakers sought on Tuesday to complete their financial regulation package before a series of final votes on landmark Wall Street reform.

The largest U.S. stocks face new trading curbs after regulators on Tuesday unveiled a plan meant to avoid a repeat of the mysterious May 6 market drop that quickly spiraled out of control.