Stocks are looking at another down open today, as profit worries continue to strike fear. Techs are leading the way down. With the start of earnings-warning season on top market worries, the pain appears to be widespread.

Overseas markets are already seizing on the fear and aredumping stocks. European markets are down at least 2.5% each so far today to three-year lows. Weakness in Nokia is leading the way. The FTSE in London is down 146 points to 4924. The Paris CAC 40 has dropped 110 points today to 4303. The German DAX is down 129 points to 4601.

Overnight in Asia, Japanese markets sparked a sell-off on profit and economic worries surrounding that country and the world. The Nikkei shed another 321 points to 10196. The Hang Seng held up much better, only losing 18 points to 10366.

In M&A news, Pinault-Printemps-Redoute SA is buying control of Gucci Group NV for US$806 million, ending a 30-month battle with LVMH Moet Hennessy Louis Vuitton SA. AOL Time Warner Inc is reportedly trying to merge its TV business with AT&T Corp. to form a U.S. cable giant.

Dominion Resources Inc., which owns Virginia’s largest electric utility, is buying Louis Dreyfus Natural Gas Corp. for US$2.3 billion in cash, stock and assumed debt.

Canadian Hunter says it has entered into an agreement to purchase an unnamed private company for $22.5 million.

Bid.Com International Inc. is launching a bid to acquire ADB Systemer ASA, a Norway-based software vendor focused on enterprise asset management and integrated electronic procurement, for cash and stock worth approximately $13 million. Along with the acquisition, Bid.Com is reducing its workforce by 30%.