* NYSE, Nasdaq at odds over cause of last week's outage
* J.C.Penney shares drop as top shareholder exits investment
* Futures down: Dow 88 pts, S&P 12 pts, Nasdaq 28 pts
NEW YORK, Aug 27 U.S. stock index futures fell
on Tuesday on rising tension over a possible military response
to a chemical weapons attack against Syrian civilians last week.
* U.S. Secretary of State John Kerry on Monday laid the
groundwork for possible action against the Syrian government,
calling for accountability over what he called a "moral
* Kerry's words triggered a flight to safety in financial
markets, with U.S. stocks turning lower in the last hour of
trading on Monday. Asian stocks fell overnight and European
shares were sharply lower despite a 16-month high in a measure
of German business sentiment.
* Gold prices hit an 11-week high and the yen rose as the
geopolitical tension lured investors towards safe-haven buying.
* S&P 500 futures fell 12 points and were below fair
value, a formula that evaluates pricing by taking into account
interest rates, dividends and time to expiration on the
contract. Dow Jones industrial average futures fell 88
points, and Nasdaq 100 futures lost 28 points.
* Five days after a glitch that paralyzed Nasdaq-listed
stocks for three hours on all U.S. markets, Nasdaq OMX
and NYSE Euronext have a different understanding of what
happened in the period preceding and during the blackout, with
each side blaming the other for the outage, according to
* Shares of J.C.Penney fell 3 percent in premarket trading a
day after hedge fund manager William Ackman, the biggest share
holder, said he had sold his entire stake after his campaign to
overhaul the retailer failed.
* Richard Schulze, the founder and largest shareholder of
Best Buy, has informed the world's largest consumer
electronics chain about his plan to start selling its stock
starting this fall, according to a regulatory filing.