General Electric (GE) missed its first quarter estimates this morning.

The mega conglomerate cited the slowing economy as the main factor, and that it virtually drained the company’s financial services  business. The company reported EPS of 44 cents, which was well below the 51 cents that earnings tracker Thomson First Call analysts had been expecting to see. This is an 8% drop from the same period last year.

Revenue was up a bit, climbing 8% in America, and 22% on a global basis.

Since GE is so wrapped up in so many sectors of the economy, you can sure that today’s report is definitely going spook a few more investors on the possibility of an upcoming recession. Before the company reported, premarket futures were trading in the green, but following the report they have all moved firmly into the red.

Should be an interesting day.

U.S. Futures are trading well in the red right now, look for a rocky stock to this Friday.

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