Overnight Stock Market Futures Down (Only) 1%

At 10:16pm ET on Tuesday night, the S&P 500 mini stock futures are down 13.75 points, or just under 1%. The Dow futures are similarly down 107 points. Roughly, a move of this size in the market tomorrow would just erase today’s gains.

Accordingly, those few investors who feared a big down day on Wednesday should take heart that so far the futures do not indicate such a large negative day.

I wouldn’t be surprised, however, to see a big move one way or the other later tonight or tomorrow.

UPDATE: At 11:15ET, the stock futures drop has been trimmed to only about 7.5 points on the S&P and 56 points on the Dow.