U.S. Stock Futures Decline as Rating Cuts Increase Euro-Area Debt Concern

U.S. stock-index futures dropped after Standard & Poor’s cut the credit ratings of nine euro-area nations, including France, signaling the region’s debt crisis is worsening.

Carnival Corp. (CCL) tumbled 15 percent in German trading after its Costa Concordia cruise liner ran aground off Italy’s Tuscan coast, killing at least six people and injuring 60.

S&P 500 Index (SPX) futures expiring in March declined 0.2 percent to 1,286.2 at 1:19 p.m. in London. The equity gauge climbed 0.9 percent last week and reached a five-month high on Jan. 12. U.S. stock markets are closed for the Martin Luther King Jr. holiday today. Futures on the Dow Jones Industrial Average dropped 14 points, or 0.1 percent, to 12,376.

European Stocks Fluctuate Before France Auction

European stocks swung between gains and losses, following three days of declines, as France prepared to sell debt after Standard & Poor’s stripped the country of its top credit rating. U.S. index futures and Asian shares fell.

Carnival Corp. (CCL) tumbled 16 percent in London after its Costa Concordia cruise liner ran aground off Italy, killing at least six people. Holcim Ltd. (HOLN) retreated 2.5 percent as the cement maker said it will book a charge in the fourth quarter. Fiat SpA (F) and Daimler AG (DAI) led a rally in carmakers after Goldman Sachs Group Inc.