Buckle up: After a crazy day on Wall Street, U.S. stock futures are falling

Buckle up: After a crazy day on Wall Street, U.S. stock futures are falling

On Monday, the New York Stock Exchange is seen in Manhattan.

U.S. stock futures sank Monday night dramatically, following a tumultuous day of trading that saw the Dow jump 1,000 points.

Just before midnight Eastern, Dow Jones Industrial Average futures YM00, -0.97%, S&P500 futures ES00, -1.42%, and Nasdaq-100 futures NQ00, -2.01% were all down more than 300 points.

After falling as low as 3.3% earlier in the day, the Dow DJIA, +0.29%, gained 99.13 points, or 0.3%, to close at 34,364.50. After plunging as high as 4% and momentarily sliding into correction territory, the S&P 500 SPX, +0.28%, rose 12.19 points, or 0.3%, to 4,410.13. After dropping over 5% earlier in the day, the Nasdaq COMP, +0.63% rose 86.21 points, or 0.6%, to 13,855.13.

Rising inflation, dismal earnings, nervousness about the Fed's projected policy adjustments, worries of a Russian invasion of Ukraine, and the ongoing COVID-19 pandemic all contributed to the quick selloff and surprising rally.

Still, Dan Eye, chief investment officer at Pittsburgh's Fort Pitt Capital Group, told MarketWatch on Monday that the market is behaving appropriately - we're just not used to it after such a long bull market. "The current level of volatility is to be expected." "We're going to see more push-and-pull and drawdowns in the stock market than we've seen in the last two years as the Fed pivots toward battling inflation," he added.

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