US stock futures slid on Tuesday on a spate of tech profits, with Chinese regulatory crackdown sparking an overhang in the market.
Futures on the Dow Jones Industrial Average
lost 210 points;
Futures on the S&P 500
Futures on the Nasdaq 100
US stocks closed at record highs for the second year in a row on Monday. The Dow Jones Industrial Average
and the S&P 500
each up 0.2%, and the Nasdaq Composite
Inches higher to set a new record too.
What drives the market
A dive for the Hang Seng at the end of the session put high risk assets around the world under pressure. The Hang-Seng
ended 4.2% lower, the second straight decline of more than 4%, amid China's relentless regulatory crackdown.
Stocks tumbled after China released rules requiring online food platforms to pay a minimum wage, but the sale was broad-based, with tech giant Tencent
everyone sees sharp declines.
Concerns about China have taken the shine from a strong earnings season.
"This crackdown on private Chinese companies has been a major drag on market sentiment despite a better-than-expected earnings season so far," said Pierre Veyret, technical analyst at ActivTrades.
Stocks rose 2% in the early pre-IPO moves as the electric vehicle posted a surprisingly strong gain.
After the close of trading, US tech giant alphabet
Report quarterly results.
The Federal Reserve is opening its two-day session, and Tuesday's economic calendar includes June durable goods order data, July consumer confidence index, and the latest Case-Shiller house price index.