US. Stock futures pointed to a negative Wednesday morning after the steep fall of Wall Street on Monday.
The Dow Jones Industrial Average fell 653 points on Monday, trading below 22,000 in volatile trading. The Dow sank by more than two percent, recovering almost all of the day's losses before falling more than two percent again. The S & P 500 fell 2.7 percent and slipped into a bearish market after falling 20.06 percent below recent highs. Wall Street traditionally sees a decline of 20 percent or more of the recent highs as a bear market. The Nasdaq Composite Index fell 2.2 percent.
And the negative sentiment is global: On Tuesday, the worldwide observed Nikkei 225 fell 5 percent in Japan.
-CNBC's John Melloy and Michael Sheetz contributed to this report.