Stocks- Wall Street Looks To Tumble as Sell-Off Continues By Investing.com

Investing.com – U.S. Futures pointed to another negative day for stock markets on Tuesday as a sell-off continues world wide.

The fell over 14 points or 0.54% to 2,593.75 as of 6:50 AM ET (11:50 GMT) while decreased 225 points or 0.94% to 23,713.0. Meanwhile tech heavy was down over 39 points or 0.61% to 6,390.0.

The lost over a 1,000 points at the close on Monday, as inflation concerns pushed stocks down. The negative movements started on Friday after a report showed that U.S. wages increased at its fastest pace in eight and a half year.

Bond yields rose after the report, as investors grow concerned that inflation will rise and the Federal Reserve will interest rates more than expected next year. The 10-year Treasury note fell to 2.708% while the 30-year Treasury note decreased to 3.005%. The movement in bond prices has contributed to market volatility. As bond yields rise, prices fall

Investors will be looking to see how the Fed reacts to rising bond yields, as Jerome Powell steps in to lead the central bank. Traders will also look to economic and earnings news, with the Job Openings and Labor Turnover Survey (JOLTS) report out at 10:00 AM ET (15:00 GMT).

Payments processor Square Inc (NYSE:) was among the worst performers in pre-market trading, falling 6.14% while Chinese e-commerce giant Alibaba (NYSE:) dipped 2.91% and Facebook (NASDAQ:) lost 1.63%. Meanwhile Microsoft (NASDAQ:) decreased 1.03% and General Electric (NYSE:) inched down 0.74%.

Elsewhere telecommunications firm Nokia (HE:) rose 1.60% while Royal Dutch Shell (LON:) company increased 0.45% and Qualcomm (NASDAQ:) was up 3.19%.

On the earnings front, Allergan (NYSE:), General Motors (NYSE:), Disney, Chipotle Mexican Grill (NYSE:), and Snap are just a few of the major firms expected to publish their fourth quarter results on Tuesday.

In Europe stocks were down. Germany’s fell 263 points or 2.08% while in France the decreased 118 points or 2.23% and in London, the was down 175 points or 2.39%. Meanwhile the pan-European lost 248 points or 2.47% while Spain’s slumped 244 points or 2.43%.

In commodities, rose 0.64% to $1,345.10 a troy ounce while futures were down 0.83% to $63.62 a barrel. The , which measures the greenback against a basket of six major currencies, inched down 0.15% to 89.44.