DEBORAH MARCHINI, CNN ANCHOR: Prospects for United States stocks looking a little bit brighter this morning with the Dow futures, the Nasdaq futures and the S&P; all indicating a slight rise in stock prices at the open, but they are still selling those shares in Europe this morning.</s>DAVID HAFFENREFFER, CNN ANCHOR: Our Todd Benjamin has that as part of our London update this morning. Good morning once again, Todd.</s>TODD BENJAMIN, CNN CORRESPONDENT: Good morning. Basically, Europe turning a blind eye to that sort of better outlook for U.S. stocks today. Right now, the FTSE is off three- quarters of one percent. The Dax in Frankfurt is off about 1 1/2 percent. Paris is hit the hardest of the big four, Deb and Dave, it's off two percent. And Zurich is off just a third of a percent, but again, you know, Zurich is not heavy in terms of technology, and therefore is being less hit this morning. And of course, what's hurting these markets today is that big selloff we saw in the Nasdaq, biotech stocks are getting hit here, along with the so-called TMT sectors, telecoms, media and high-tech. Part of that may be a reflection of a Merrill Lynch global survey of fund managers which they do every month in which fund managers indicated, a lot of them, that they plan to cut their exposure to TMT stocks over the next year. Back to you in New York.</s>HAFFENREFFER: All right, Todd. Thanks very much.
Biotech, TMT Sectors Drag on Euro Markets