Wall Street braces for jobs reportFutures decline amid mounting...

Wall Street braces for jobs report

Futures decline amid mounting credit problems; all eyes on payrolls report.

Stock futures fell early Friday as mounting credit worries took a toll on sentiment and ahead of the government's monthly jobs report.

At 4:47 a.m. ET, Nasdaq and S&P futures were lower, indicating a negative open.

Investors will focus on the Labor Department's February payrolls report, due at 8:30 a.m. ET. The report, which is expected to show weak job growth, is likely to heighten recession anxiety.

Credit worries sank stocks on Thursday and remained a concern after Carlyle Capital, a unit of private-equity firm Carlyle Group, said Friday that lenders have started liquidating some of its mortgage securities.

Those concerns sent overseas markets sharply lower. Asian stocks tumbled, with Japan's Nikkei finishing the session 3% lower. European shares tumbled in morning trading.