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  1. Home
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  3. / Stocks

World Markets Slump as Brussels Terror Attack Kills Dozens

U.S. futures point lower as world markets react to the latest terrorist attack in Europe.
By TONY OWUSU
Mar 22, 2016 | 08:33 AM EDT
Stocks quotes in this article: KKD, DKS, NKE, MFRM, PBR

World markets and U.S. futures were declining Tuesday following a terrorist attack in Belgium that killed at least 26 people and injured 130.

Authorities confirmed that a suicide bomber committed an attack at the city's main airport with two bombs exploding near the check-in area at about 8 a.m. An hour later, another bomb exploded at a subway station near the European Union headquarters.

The attacks come just days after Belgian authorities arrested Salah Abdeslam -- the last remaining suspected participant in the Paris terror attacks last year -- in Brussels on Friday. The explosions disrupted travel at the two travel hubs.

European markets are down across the board with the German DAX falling 0.31%, the FTSE 100 in the U.K. down 0.7% and the CAC-40 dropping 0.4%. Stocks in the European airline, airport and hotel sectors were all sharply lower Tuesday.

Oil prices were also dropping premarket with international standard Brent crude for May delivery down $0.10 to $41.44 and West Texas crude for May delivery dropping $0.18 to $41.34.

In the U.S., investors will be watching the third-quarter earnings releases from Krispy Kreme (KKD) and Nike (NKE) after the closing bell. Analysts at J.P. Morgan reiterated their Overweight rating, while upping their price target on Nike to $72 from $67.50 ahead of the earnings release.

Dick's Sporting Goods (DKS) announced a new $1 billion share-repurchase program on Monday. The program runs for the next five years and the company can suspend or discontinue its program at any time.  

Petrobras (PBR) reported a record quarterly loss of $10.2 billion in the fourth quarter after having to write down assets due to slumping oil prices.

Mattress Firm (MFRM) will face negative pressure on Tuesday after missing analysts' bottom line expectations by $0.03 per share, while also missing on revenue. The mattress retailer also provided current quarter guidance that was well below guidance. One bright spot for the company was that it named President Ken Murphy as its new CEO.

Finally, a court hearing between Action Alerts PLUS holding Apple (AAPL) and the FBI scheduled for today was cancelled after federal authorities said they may be able to hack a terror suspect's iPhone without help from the tech company. The FBI has been petitioning Apple to provide a backdoor into the phone of one of the San Bernardino shooters, a request Apple has repeatedly denied. 

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TAGS: Investing | U.S. Equity | Stocks

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