Stock futures slipped Tuesday as Wall Street looked to build on a modest rebound ahead of another rate hike from the Federal Reserve.
Futures for the Dow Jones Industrials collapsed 107 points, or 0.3%, early Tuesday to 31,010.
Futures for the S&P 500 fell 17.5 points, or 0.5%, to 3,899.75
Futures for the NASDAQ Composite Index slid 73.25 points, or 0.6%, to 11,950.75.
Ford stock fell 4.5% in the premarket after it warned that quarterly earnings would take a hit of about $1 billion from increased supplier costs and parts shortages.
The Federal Open Markets Committee kicks off its September meeting on Tuesday, and the central bankers are expected to announce a 0.75-percentage-point rate hike on Wednesday. Stocks have tumbled in recent weeks as comments from Fed Chair Jerome Powell and an unexpectedly hot August consumer price index report caused traders to prepare for even higher rates until inflation cools.
On the economic front, investors will get a fresh look at the housing market on Tuesday morning with the August reports for housing starts and building permits.
In Japan, the Nikkei 225 returned from a long weekend to gain 0.4%, while in Hong Kong, the Hang Seng shot higher 1.2%.
Oil prices gained 14 cents to $85.87 U.S. a barrel.
Gold prices moved downward $1.40 to $1,676.80 U.S. an ounce.