US pre-open: Stocks set to bounce following Wall Street's worst day of 2019

Wall Street futures had stocks opening higher on Tuesday, with major indices attempting to bounce back from their worst day of the year during the previous session.

As of 1230 BST, Dow futures were pointing to gains of 0.84% at the bell, while S&P 500 and Nasdaq futures had the indices opening 0.92% and 1.07% firmer, respectively.

US stocks finished well in the red on Monday, following on from heavy losses seen across Asian indices overnight.

Yesterday's sell-off began last week when Donald Trump surprised everyone with a round of new tariffs on Chinese goods. Markets took an even more negative turn when, come Monday, Chinese authorities allowed the yuan to break to its lowest level against the US dollar in over a decade.

In response, the US Treasury Department designated China a currency manipulator and Trump took to Twitter to voice his disgust at both the move and his own central bank.

"China dropped the price of their currency to an almost a historic low. It's called 'currency manipulation'. Are you listening Federal Reserve? This is a major violation which will greatly weaken China over time!," he said.

China also confirmed at the start of the week that it would suspend purchases of US-made agricultural products.

On the data calendar for Tuesday, June's JOLTS job openings report was scheduled for release at 1500 BST, while in corporate news, Disney, Bausch Health and Wynn Resorts were set to post earnings throughout the day.