Stock futures slide to kick off September trading
U.S. stock futures declined Tuesday as traders braced for a potentially tough month ahead after a strong but volatile August.
Futures tied to the Dow Jones Industrial Average slipped 180 points, or 0.4%. S&P 500 futures lost 0.5%, and Nasdaq-100 futures fell 0.7%.
U.S. markets were closed Monday due to the Labor Day holiday.
The major averages are coming off a winning session, securing a gain for the month. The S&P 500 rose 2.3% in August, marking its fourth straight monthly gain. The Dow and Nasdaq advanced 1.8% and 0.7%, respectively, during the period.
Those moves came after a steep sell-off to begin the month. Concern over the U.S. economy falling into a recession, along with the unwinding of a popular hedge fund trade involving the Japanese yen, sent stocks tumbling in early August. At one point, the S&P 500 was down more than 7% for the month before recovering.
Source: CNBC