Stock index futures settled in the red on the approach to the opening bell on Tuesday.
It was a rollercoaster ride in pre-market and after-hours trading following Monday’s sell-off, with the major stock market index futures swinging between big gains and losses.
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On Monday, the Dow Jones Industrial Average fell more than 1,500 points at the low point. It closed down 1,175 points, or 4.6%, its biggest one-day point drop ever.
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There wasn’t a significant piece of news that drove the markets lower, but many analysts say the pullback was long overdue. Before Monday’s sell-off, the Dow had enjoyed the longest stretch without a 5% pullback in 20 years, according to MarketWatch.
Oil futures were also lower Tuesday morning, while bitcoin futures fell. Bitcoin futures were recently down to less than 6,400, according to CoinDesk.