The New York Stock Exchange (NYSE) in New York City, U.S., February 24, 2022.
"Presently, the markets price in around a 125bp (basis points) cut from the Fed next year," Ipek Ozkardeskaya, senior market analyst at Swissquote Bank, said in a note.
Investors will also parse data on U.S. services sector activity from S&P Global and the Institute for Supply Management on Tuesday.
ET, Dow e-minis were down 115 points, or 0.32%, S&P 500 e-minis were down 20 points, or 0.44%, and Nasdaq 100 e-minis were down 103 points, or 0.65%.
Reporting by Amruta Khandekar and Shristi Achar A; Editing by Pooja DesaiOur Standards: The Thomson Reuters Trust Principles.
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