Growth concerns lead to US futures dipping

<p>US futures dropped due to concerns over growth.</p>

Ongoing concerns over growth in the US led to US futures falling today (March 4th).

The Dow was down 17 points and the Nasdaq by 12.75 points due to worries over the country's prospects for global economic growth.

Peter Cardillo, chief market economist at Rockwell Global Capital in New York, suggested plans announced by the cabinet last week were behind rising worries about slower growth in China.

"It raises the question of growth in China," he was quoted as saying by Reuters, adding the political instability of Italy could also have an effect.

"All of these things are an excuse for the market to take a little bit of a breather and have a choppy session," said Mr Cardillo.

This comes shortly after gold futures took a blow after India was revealed to be set to increase its import taxes for the second time this year.

Buying gold is deemed to be auspicious in India during the festival and wedding season, which lasts from August to the new year.

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