U.S. stock futures were higher in overnight trading on Monday following a major sell-off on Wall Street that resulted in the S&P 500′s worst day since May.
Dow Jones futures rose 131 points. S&P 500 futures and Nasdaq 100 futures both traded in positive territory.
The major averages tumbled on Monday due to a confluence of concerns including the imminent Federal Reserve meeting, the lingering delta variant, potential economic disruption in China and the debt ceiling deadline.
However, stocks closed well off their lows of the day.
The S&P 500 slid 1.7% for its worst day since May 12 of this year. At it’s low of the day, the 500-stock average pulled back 5% on an intraday basis from its high. It currently sits 4.1% from its record.
The Dow Jones Industrial Average plummeted 614 points, or 1.8%, for its biggest one-day drop since July 19. The Nasdaq Composite dropped 2.2% as growth pockets of the market were some of the hardest hit.