Stocks were cautious the day after a large tech selloff and ahead of the start of Federal Reserve Chairman Jerome Powell’s first policy setting meeting.
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Dow Jones futures were lower by 0.10%. The S&P 500 was off by 0.03% and the Nasdaq Composite was down by 0.27%.
Stocks fell sharply on Monday, as data privacy concerns engulfed Facebook and drove a tech sell-off that weighed on the broader market.
The Dow Jones Industrial Average slipped 335.60 points, or 1.35%, to 24,610.91, falling back into negative territory for the year. The S&P 500 fell 39.09, or 1.42%, to 2,712.92 The Nasdaq Composite retreated 137.74 points, or 1.84%, to 7,344.24.
The tech-heavy Nasdaq was dragged lower by Facebook, which fell about 6.8%, its steepest one-day loss in years. The drop wiped out $36.4 billion in market value, following news that a firm tied to President Donald Trump’s 2016 election campaign gathered data from millions of Facebook profiles without authorization.
Asian market shares fell, following the reaction in U.S. markets.
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Japan’s Nikkei dropped 0.5%.
In China, the Shanghai Composite index reversed direction to close higher by 0.3%, helped by healthcare firms.
In Hong Kong, the Hang Seng Index was down 0.54%.
