However, a dip in crude-oil prices and a positive pre-announcement from software maker Siebel Systems provided a glimmer of hope for a rebound.
Dow futures were down 20 points, at 10,628, Nasdaq 100 futures fell 9.5 points, to 1,573, while S&P 500 futures dropped 2.2 points, to 1,189.
"I think you're just getting some follow-through selling into yesterday's weakness whether it's based on the FOMC meeting or just more of this kind of continued profit taking or squaring of positions," said John Hughes, market analyst.. Hughes said the selling could peter out as the morning gets underway to be replaced by an afternoon rally. "From Monday's high on the Nasdaq, you're down almost 4 percent already. As far as a normal three to five percent correction goes, we're almost at those parameters. Things are getting a little overdone on the downside at least in the short term." spirit
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