UPDATED 7:10 ET

STOCKS – European stocks dropped from their highest level since May 2008, tracking global indexes lower amid concern over equity valuations. U.S. index futures were little changed, while Asian shares retreated.

BONDS – Treasuries declined, pushing 10-year yields up from the lowest level in a month, before Federal Reserve board members Charles Plosser and Richard Fisher are scheduled to speak on the economic outlook.

COMMODITIES – Crude Oil traded little changed in its worst start to any year since 2009 amid estimates U.S. fuel stockpiles increased for a third week.

CURRENCIES – The yen fell the most in four weeks against the dollar after a government report showed Japan’s current-account deficit widened to a record in November.

ECONOMIC DATA – US Retail Sales due at 8:30, Business Inventories at 10:00, FOMC Member Plosser Speaks at 12:45 and FOMC Member Fisher Speaks at 13:20 ET.