Ahead of Fed Meeting, Stock Futures Increase following the Worst day of S&P 500′s since May

Stock Futures S&P 500

USA Stock Futures were trading higher in the early morning on Tuesday after a major sell-off on Wall Street that resulted in the worst day of S&P 500′s since May.

Dow Jones futures gained 242 points. Nasdaq 100 and S&P 500 futures both traded in positive territory.

The major indicators tumbled on Monday due to the imminent Federal Reserve meeting, potential economic disruption in China, the debt ceiling deadline, and the lingering delta variant.

However, by the end of the day, stocks closed well.

The S&P 500 fell by 1.7% for its worst day on Monday since May 12 of this year. At its low of the day, the S&P 500 pulled back 5% intraday from its high. S&P 500  currently sits at 4.1% from its record.

The Dow Jones Industrial Average decreased by 614 points, which is its biggest drop since July 19. The Nasdaq Composite dropped by 2.2% as growth pockets were among the hardest hit.

The Central bank begins its monetary policy meeting on Tuesday. Investors are eyeing for more information from Fed Chairman Powell about when it is planning to taper its bond-buying.