U.S. stock index futures pared significant losses ahead of Tuesday’s open, but still pointed to a sharply negative open as the sell-off continues to weigh on sentiment worldwide.
During Monday’s late hours, Dow futures were down 826 points, and S&P 500 futures were lower by 76.5 points as of 11:25 p.m. ET, indicating that the implied open for the Dow, based on futures, was a decline of 1,203.75.
Around 6:30 a.m. ET, Dow futures were indicating a roughly 620 point drop at the open, S&P 500 futures suggested a decline of 55 points and Nasdaq futures indicated a 105 point drop.
On Monday, the Dow Jones industrial average dropped 1,175.21 points to close down at 24,345.75 — having briefly declined more than 1,500 points during the session; with other major indexes closing sharply lower. The sell-off kicked into action on Friday, after the latest nonfarm payrolls report saw interest rates in the U.S. jump.