U.S. stock index futures were trading sharply lower ahead of Tuesday's open.
Markets worldwide were trading in the red on Tuesday, with U.S. futures coming under additional pressure after U.S. stocks posted sharp declines Monday.
The Dow Jones industrial average fell 177 points by the close, on the back of a rise in the 10-year treasury yield, raising concerns that higher interest rates could douse the bull market. On Tuesday, U.S. treasury yields were under slight pressure. Meantime, the Dow futures fell some 150 points on Tuesday morning.
Elsewhere, U.S. companies due to report earnings Tuesday include McDonald's, Pfizer, Aetna, Autoliv, Corning, Harley-Davidson, Polaris Industries, PulteGroup, AK Steel, Chubb, Electronic Arts, Juniper Networks and Stryker.
In data news, the S&P/Case-Shiller house price index is slated to come out at 9 a.m. ET, followed by consumer confidence data and housing vacancies at 10 a.m. ET and the Dallas Fed's Texas Service Sector Outlook survey at 10:30 a.m. ET.
President Donald Trump is expected to deliver his State of the Union address for 2018 to a joint session of Congress.