MARKETS / FINANCE

Stock index futures pointed to a sharply lower open on Wall Street on Tuesday following a long holiday weekend, as mounting doubts over the pace of the global economic recovery hit stocks worldwide.

The euro fell to a 4-year low against the dollar on Tuesday as fears the euro zone's debt crisis could spread to its banking system hit the single currency, while deteriorating sentiment supported the greenback.

World oil prices advanced past the $74 a barrel mark Tuesday mainly after positive results in Chinese factory data that eased concerns on Euro zone worries. Light sweet rude for July delivery was seen trading at $74.35 a barrel at 11.00 a.m Singapore time while Brent crude was at $74.56 a barrel at the same time in London. Analysts said Euro zone economic sentiment unexpectedly fell last month, an indication that the region's debt crisis has begun affecting the real economy.

World's largest populated country, China has identified potato as the ideal crop that could help it alleviate poverty and serve as a bulwark against famine. China is facing a huge challenge of feeding a growing nation on a shrinking supply of arable land while confronting severe water shortages has long been a major concern here. That prompted the dragon nation to look for other sources apart from rice and wheat that consumes less water but yield far more calories per acre.