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Sept. 29 (Bloomberg) -- European and U.S. stock futures fell after the evaporation of investor confidence spurred a $16.3 billion bailout of Fortis and concern grew a U.S. rescue plan won't prevent more bank failures. Asian shares declined....
Futures on the Dow Jones Euro Stoxx 50 Index, a benchmark for the euro region, decreased 40, or 1.3 percent, to 3,143 at 7:44 a.m. in London. Futures on the Standard & Poor's 500 Index lost 1.2 percent.
``There's more pain to come,'' said Andy Lynch, who manages about $3 billion at Schroder Investment Management Ltd. in London. ``People knew the bailout was going to happen. Now it's back to the same-old same-old of capital writedowns and weekend bailouts. Earnings estimates for next year still are too high.''
