Stocks Set To Extend Slump

NEW YORK (CNNMoney.com) -- U.S. stocks were poised for a lower start Friday, extending losses from the previous session's rout that sent the market into correction territory.

At 8:15 a.m. ET, Dow Jones industrial average (INDU), S&P 500 (SPX) and Nasdaq (COMP) futures were down about 0.6%.

Futures measure current index values against perceived future performance and offer an indication of how markets may open when trading begins in New York.

U.S. stocks swooned Thursday as fears about the global economic recovery escalated. The Dow dived 3.6%, the S&P 500 tanked 3.9% and the Nasdaq sank 4.1%.

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The plunge brought U.S. markets into an official correction, a technical term for when stocks fall more than 10% from their recent highs.

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