US stock futures slip; DJIA in correction territory

On Tuesday, US stocks futures stepped lower, with the Dow Jones Industrial Average falling into correction territory.

The contracts tied to the blue-chip DJIA tumbled 0.12% or 45.00 points lower to the 32,740 price level.

At the same time, the Nasdaq futures slashed 0.26% or 33.75 points to the 13,285.50 price level.

Likewise, the S&P 500 futures declined 0.15% or 6.00 points to the 4,191.75 price level.

The downturn of US stock futures came after a steep sell-off on Monday’s regular trading session.

The Dow decreased 2.37% or 797.42 points to the 32,817.38 price level, its fifth negative session.

American Express dragged down the index as it sank 7.99% or 13.82 points to $159.13 per share.

Then, the S&P 500 dropped 2.95% or 127.78 points to the 4,201.09 price level. It is the most significant one-day drop of the benchmark in more than a year.

Remarkably, the Nasdaq Composite slipped 3.62% or 482.48 points to the 12,830.96 price level. The gauge is now 20.00% lower than its record high from November.

The tech-heavy index entered the bear territory following the plunge of tech stocks.

Accordingly, investors kept an eye on the developments of the escalated geopolitical tensions between Ukraine and Russia.

On Sunday, the United States and its allies eyed a possible ban on Russian oil and natural gas imports.
In line with this, energy stocks and utilities were among the few winners following a significant spike in crude oil and gas prices.

Markets fear that the mounting inflation could eat into companies’ bottom lines or even spark a recession.

US stock futures slip as Asia Pacific drops

Shares in the Asia-Pacific followed the plunge of US stock futures as investors remained on edge.

Consequently, mainland Chinese stocks led losses regionally. The Shanghai Composite index declined 2.05% or 69.09 points to the 3,303.77 price level.

Then, the benchmark Shenzhen Component plummeted 2.23% or 280.54 points to the 12,292.89 price level.

Eventually, Hong Kong’s Hang Seng index shed 0.12% or 25.16 points to the 21,032.47 price level.

In Japan, the Nikkei 225 index sank 1.13% or 284.73 points to the 24,936.68 price level.

Subsequently, the broader benchmark TOPIX fluctuated 1.41% or 25.29 points to the 1,768.74 price le