Ahead of reports
Stock futures declined in early morning trading on Tuesday on the back of upcoming quarterly earnings reports from several technology companies.
The decline was due to a day of big losses in Hong Kong markets, where the Hang Seng Index was down more than 5%.
Tesla (TSLA) shares rose about 1% after the close of trading on Monday after its second-quarter earnings report came in better than analysts had expected. Tesla surpassed the $1bn quarterly net profit mark for the first time.
Major US stock indices closed Monday with record highs. The Dow Jones rose 82.76 points, the S&P 500 also added 0.24% and the Nasdaq closed 0.03% higher.
"It looks like we're going to get really good earnings from these companies and that should put the market in a bit of a tailspin. Some of these companies have already grown enough this 2021 that we might not get a big bounce," said chief market strategist Crossmark Global Investments.
Tuesday is also the start of the Federal Reserve's two-day meeting. Investors await information on the central bank's monetary policy.
Also, the Open Market Committee (Fed) and the Governing Council are due to release a statement after Wednesday's meeting.