Futures Fall on Anniversary of March Lows

U.S. stocks were poised to drop one year after hitting their lowest levels since the beginning of the financial Great Recession.

Ahead of the opening bell, Dow Jones industrial average futures fell 25, or 0.2%, to 10,513. Standard & Poor’s 500 index futures fell 4.30, or 0.4%, to 1,132.80, while Nasdaq 100 index futures fell 3.75, or 0.2%, to 1,884.50.

Futures measure current index values against perceived future performance and can offer an indication of how markets will open when trading begins in New York.

Stocks have surged over the last year since hitting 12-year lows. The Dow Jones industrial average is up 61.2% since bottoming out but traders’ expectations about an economic recovery have also grown. That means it will take more than just an occasional upbeat economic report or earnings release to send stocks up.

In corporate news, Merck & Co. and Sanofi-Aventis SA said they are combining their animal health businesses. The joint business will control about 29 percent of the $19 billion market for pet and livestock medicines.

Overseas, Japan’s Nikkei stock average dipped 0.17%. Britain’s FTSE 100 fell 0.58%, Germany’s DAX index dropped 0.43% and France’s CAC-40 fell 0.52%.