U.S. stocks headed for another lower open Wednesday amid continuing investor uneasiness, but futures prices pointed to less intense pressure than on Tuesday, when stocks plunged after the opening bell.The Federal Reserve's emergency cut of its federal funds rate by 0.75 basis points to 3.50 percent eventually helped calm U.S. markets, but it was already clear in Tuesday's trading that investors had doubts about the potency of the Fed's actions. Rate cuts typically take months to work their way into the economy.
Meanwhile, a disappointing forecast from Apple Inc. showed how fragile investor sentiment is.
The maker of the iPod issued a forecast for its fiscal second quarter that said sales would likely grow by 29 percent. The figure would represent faster growth than in earlier years but fell short of what Wall Street had been expecting.
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