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Street set for another lower open with Dow futures off 100; yields fall

U.S. stock-index futures pointed to a lower open Wednesday as benchmark Treasury yields held near record lows and overseas stocks fell.

Dow futures fell more than 100 points, while S&P and Nasdaq futures dropped 12 points and 30 points, respectively.

Brexit and global growth fears pushed investors back into "risk-off" mode on Tuesday and this continued on Wednesday. The latest spur was the suspension of three U.K. commercial property funds this week, which was seen by some as the first sign of markets seizing up following the U.K.'s vote to leave the European Union.

The benchmark 10-year U.S. Treasury note yield was near 1.336 percent on Wednesday, below Tuesday's record low of 1.357 percent. Bond yields move inversely to prices.

The 30-year Treasury yield hit a fresh record low of 2.098 percent, according to Reuters.

Overnight, pound sterling hit a 31-year low and was last trading slightly above that level around $1.297.

The U.S. dollar index traded a touch lower, with the euro near $1.108 and the yen near 100.7 yen versus the greenback as of 8:42 a.m. ET.

Bonds Front: U.K. Treasurys GILT Chart

The U.S. May trade deficit was $41.1 billion versus $37.4 billion the prior month.

The ISM Services index for June is also due for release. Plus, there will be the Federal Open Market Committee minutes for the meeting last month, which pre-dates the U.K. referendum vote to leave the European Union.

Friday's official non-farm payroll will be the next big data event.

"Any further deceleration in the pace of U.S. employment (and hence economic) growth would take the global economy even closer to stalling speed," Kit Juckes, strategist at Societe Generale, said in a note on Wednesday.

Walgreens Boots Alliance reported ex-items earnings of $1.18 a share that beat expectations on revenue of $29.5 billion that missed forecasts, Reuters said. The firm didn't discuss impact from Brexit to its business, while raising the lower end of its full-year adjusted profit forecast

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