U.S. stock index futures indicated a lower open Tuesday as investors focused on hefty falls in Europe's banking sector and a new fiscal stimulus package from Japan.
In Europe, stocks were lower, dragged down by banking shares as worries about the health of the region's lenders continued to weigh on sentiment. Italian banks were the worst hit. Shares of BMPS were down nearly 9 percent and briefly suspended from trade.
And Unicredit tanked and was briefly suspended from trade over concerns about its bad loan portfolio with investors worried it will need a larger-than-expected capital raise.
In Asia, the Japanese cabinet approved 13.5 trillion yen ($132.04 billion) in fiscal measures with cash payouts to low-income earners and infrastructure spending. The yen, however, strengthened against the dollar after the announcement.