Stocks are facing another down open today, as recession worriers seem to have the edge in pre-market trading.

Techs are notably weak. Stocks such as Juniper Networks are down on poor results and analyst downgrades.

As well, Verizon Communications Inc. reported its third-quarter profit dropped 46%.

European stocks are down, with techs and banks leading the way. French companies are reported to be more pessimistic about the economy than at any time in the last eight years, according to a new survey.

This morning, the FTSE is down 64 points to 5,021. The CAC 40 has dropped 90 points to 4,293. The DAX is off 97 points to 4,563.

Overnight in Asia, markets followed Wall Street in selling off on recession fears. The Nikkei dropped 99 points to 10,513. The Hang Seng gave up 102 points to 10,076.

In other business news, it is being reported that Ford Motor Co. has replaced CEO Jacques Nasser with chairman William Clay Ford Jr.

In earnings news, Gold Fields Ltd. reported net earnings for the September quarter were US$24 million, compared to a loss of US$195 million in the prior quarter.

Husky Energy Inc. reports third quarter net earnings of $156 million, compared with $138 million for the same period last year.