U.S. stock futures fell Tuesday after the NASDAQ Composite closed at its lowest in two years during the regular session.
Futures the Dow Jones Industrials slid 43 points, or 0.2%, to 29,217.
Futures for the S&P 500 declined 9.5 points, or 0.3%, to 3,615.75.
Futures for the NASDAQ Composite backtracked 31.25 points, or 0.3%, to 10,952.75.
Stocks closed lower Monday, with the NASDAQ falling 1% following a drop in semiconductor stocks. The Dow shed nearly 94 points, or 0.3%, while the S&P 500 declined about 0.8%.
Investors weighed comments from JPMorgan CEO Jamie Dimon, who warned that the U.S. would likely fall into a recession over the next “six to nine months,” and said the S&P 500 could fall another 20% depending on whether the Federal Reserve engineers a soft or a hard landing for the economy.
Those remarks came at the start of a big week for third quarter bank earnings, and ahead of Wednesday's producer price report, Thursday's consumer price index report for September and Friday's retail sales numbers, also for last month.
Investor reaction is focused solely on how the Federal Reserve will react to the economy as it works to dampen inflation.
Shares of American Airlines were moving higher in pre-market trading after the company said it expected some of its third-quarter results to beat guidance.
American said that revenue would be up 13% compared to the third quarter of 2019. The company had previously guided to an improvement of 10% to 12%. Total revenue per average seat mile and pre-tax margin are also poised to come in ahead of expectations, according to American.
The stock was up 5.8% before the market open.
In Japan, the Nikkei 225 fell 2.6% Tuesday, while in Hong Kong, the Hang Seng Index slipped 2.2%.
Oil prices dipped $1.29 to $89.84 U.S. a barrel.
Gold prices jumped $3.30 to $1,687.50 U.S. an ounce.