S&P 500 futures were trading below the lowest level hit earlier in the stock market during Monday’s wild sell off.
The cash S&P 500, which closed at 2,648, touched 2,638 in afternoon trading, and that is the level traders are watching to see if it can act as support or signal more selling. The S&P futures were down 143 points at 2,611 in late afternoon trading, 27 points below the cash market low.
In the futures market, it was signalling selling.
The S&P 500 was down 113 points, or 4.1 percent Monday in its worst day since August, 2011.