A report from the WSJ warns that the IMF may require Portugal to present financing plans a year ahead of time to pay back debts in September 2013. Traders warn this may force Portugal to accept a second bailout.
Portugal 5-year credit default swaps increased to a record 1265 basis points.
European markets are slipping, led by the Dax down 1%.
Much of Asia is closed for the Chinese New Year.
Dow futures point to a negative open.
[Correction: This post previously quoted Shanghai and Hong Kong’s Friday close.]