India, May 23 -- The New Home Sales for April might be the major economic announcement on Friday. The early signs from the U.S. Futures suggest that Wall Street might open significantly lower. Asian shares finished mostly lower, while European shares are trading down.

As of 8.10 am ET, the Dow futures were down 605.00 points, the S&P 500 futures were declining 87.50 points and the Nasdaq 100 futures were tumbling 389.50 points.

The dollar was on course to snap a four-week winning streak due to U.S. fiscal health worries. Gold headed for its biggest weekly jump in 1-1/2 months on safe-haven demand.

Oil prices fell for a fourth consecutive session and headed for the first weekly loss since April as traders braced for a potential supply boo...