Fred Imbert, Silvia Amaro
At around 7:43 a.m. ET, Dow Jones Industrial Average futures fell by 100 points, pointing to a loss of around 90 points at the open. S&P 500 and Nasdaq 100 futures also slid.
Traders are focused on the upcoming Fed meeting, which starts Tuesday. Market expectations point to a quarter-point rate cut on Wednesday, which would be the first rate cut in a decade.
On the data front, there will be personal and consumer spending figures out at 08:30 a.m. ET; as well as pending home sales and consumer confidence numbers due at 10:00 a.m. ET.
In corporate news, Mastercard and Under Armour are reporting before the bell. Apple and Mondelez will be updating investors after the bell.
Wall Street ended on a mixed note Monday as investors monitored a new round of trade talks between the U.S. and China and weighed the upcoming Fed decision.