IBM -4.5% Pre-Market; Dow Futures Sliding

UPDATE: Boeing cuts 747 production 12.5% on lower demand (BA -0.5%, Dow futures slide 25 points)

Thanks in large part to G-20 comments, JPY has resumed its devaluation path and dragged risk-assets higher with it as S&P futures are up 8 points. However, this 'artificial' exuberance appears to hide the simple reality of individual stocks as IBM is trading down 4.5% in the pre-market and for now Dow futures are down around 40 points from the cash close.

Dow Futures bounced back from IBM losses but are sliding now...

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as IBM remains -4.5%

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