Stock futures were lower Tuesday as September's selling pressures took hold of Wall Street following gains seen in the previous session.
Futures for the Dow Jones Industrials lost 96 points, or 0.3%, to 34,177.
Futures for the S&P 500 faded 13.25 points, or 0.3%, at 4,365.50.
Futures for the NASDAQ dumped 46.5 points to 14,888.75.
Those moves would add to the market's losses for the month. Entering Tuesday's session, the NASDAQ Composite was down 5.4% in September, while the S&P 500 lost 3.8% and Dow backtracked 2.1%. Among the catalysts pushing stocks lower this month is the Federal Reserve warning that it sees fewer rate cuts next year. The news pushed the benchmark 10-year Treasury yield to levels not seen since 2007.
Investors this week are also grappling with negotiations in Washington, as lawmakers hope to avert a government shutdown that could take place as early as Oct. 1 if Congress doesn't agree on a spending bill.
Upcoming seasonal market tumult could present a window for investors. Though October is known as the “jinx month” because of the 1929 and 1987 crashes, it also has a reputation as a “bear killer,” according to the “Stock Trader's Almanac.”
U.S.-listed shares of Barclays rose more than 2% premarket after Morgan Stanley said improvements in the U.S. credit card business and increased deal volume could be good news for the bank.
On the economic data front, investors will keep an eye out Tuesday for August's final building permits report before the bell, as well as new home sales data for last month later that morning. The Conference Board's consumer confidence report for September is also due.
In Japan, the Nikkei 225 sank 1.1% Tuesday, while in Hong Kong, the Hang Seng dipped 1.5%
Oil prices handed back 50 cents to $89.18 U.S. a barrel.
Gold prices swooned $5.80 to $1,930.80.