Futures sharply cut losses

NEW YORK -

Stock index futures sharply cut losses on Wednesday, with the S&P 500 index futures briefly turning positive.

S&P 500 futures were flat and in line with 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 lost 8 points, and Nasdaq 100 futures were down 5 points.

(Reporting By Angela Moon, editing by Dave Zimmerman)