Futures were higher on Tuesday morning after another rough day for Wall Street.
Stock futures rose Tuesday, as the Dow Jones Industrial Average and S&P 500 tried to bounce back from their lowest closing levels in nearly two years.
Treasury yields also came off their highs, boosting sentiment. The benchmark 10-year yield dipped nearly 5 basis points to 3.823%.about the central bank raising rates too quickly to fight inflation., with the S&P 500 closing at its lowest level since 2020. The Dow dropped more than 300 points on Monday, putting it in a bear market after falling more than 20% below its record high. The 30-stock average also posted its lowest closing level since late 2020.
"Typically, US investors wouldn't care too much about something like this, and especially more recently. And so this to me says that now there is this fear that is gripping investors a lot more than it did before. That in turn will lead to a capitulation moment where we really are at a bottom," said Max Gokhman, CIO at AlphaTrAI.
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