Investors kept an eye on dollar weakness, as the U.S. currency touched an 18-month low against the yen, and saw its lowest point against the euro since August 2015.
U.S. equities dropped Tuesday, with the three major indexes falling more than 1 percent each before gaining back some of those losses.
On the data front, April vehicle sales reported Tuesday are expected to total 17.3 million, versus 16.6 million in March.
There will also be $40 billion auction of four-week bills later in the day.
Atlanta Fed President Dennis Lockhart is set to speak at the World Affairs Council Jacksonville at 7 p.m. ET, discussing the economic outlook and monetary policy.