U.S. stock futures pointed to a deeply negative open Tuesday morning as corporate results from 3M and Caterpillar disappointed investors.
Shares of 3M fell more than 5 percent in the premarket after its quarterly earnings and revenue missed expectations. The company also trimmed its earnings outlook for 2018.
Caterpillar also dropped more than 5 percent following the release of its results. The company said its manufacturing costs rose due to higher material and freight costs. Material costs were driven by higher steel prices and tariffs.
