U.S. stock index futures pared significant losses ahead of Tuesday’s open. However, they still pointed to a sharply negative open as the sell-off continues to weigh on sentiment worldwide. During the late hours on Monday, Dow futures were down 826 points, and S&P 500 futures were lower by 76.5 points by 11:35 p.m. ET. This means the implied open for the Dow, based on futures, was a decline of 1,203.75. On Tuesday morning, around 7:35 a.m. ET, Dow futures were showing a roughly 540 point drop at the open, S&P 500 futures suggested a decline of 50 points and Nasdaq futures indicated a 99-point drop. Meanwhile, the Cboe Volatility index jumped to 49.21. This index is widely considered the best fear gauge on Wall Street. Global markets have dropped significantly. According to CNBC, the German Dax dropped 2.1 percent, the French CAC 40 fell 2.4 percent, the Japanese Nikkei 225 dropped 4.7 percent, and the Shanghai composite pulled back 3.4 percent.
Thanks for reading InsideHook. Sign up for our daily newsletter and be in the know.