Stock market poised for weak opening

U.S. stock markets were poised Wednesday to open lower on fears over the European economic picture.

London equities were down earlier in the day after lower United Kingdom unemployment results sparked fears of Bank of England interest rate increase, the Wall Street Journal reported. Weak earnings from International Business Machines (IBM) are also a factor.

The Financial Times reports rising bond yields on the U.K. situation and says the flat opening for Wall Street is tempering markets across Europe. Wall Street is bracing for the next round of Federal Reserve tapering of its bond-buying stimulus program.