BY THE NUMBERS

U.S. stock futures dropped Tuesday, with the Nasdaq indicated down 2%, one day after a stunning market turnaround. The Nasdaq was down as much as 4.9% on Monday before mounting a startling comeback to close up 0.6%. However, the tech-heavy index was still firmly in a correction, down 13.7% from its record close in November. (CNBC)

* Long-term investors shouldn’t worry too much about stocks 10% off their highs (CNBC)
* Investors fear 'crypto winter' ahead as bitcoin falls 50% from record highs (CNBC)

Down 1,115 points, or 3.25%, at Monday's lows, the Dow ended up 0.3%. The 30-stock average was 6.6% below its record close earlier this month. The S&P 500 also closed up 0.3% after being down nearly 4% at one stage Monday, briefing entering correction territory, off more than 10% from its record close to start the new year. (CNBC)

Bond yields moved higher Tuesday as the Federal Reserve was set to begin its two-day January meeting. The Fed's policy statement and Chairman Jerome Powell's news conference Wednesday afternoon are expected to reflect a willingness on the part of the central bank to take the steps necessary to fight inflation. (CNBC)

IN THE NEWS TODAY

Pfizer (PFE) and BioNTech (BNTX) on Tuesday launched a clinical study to evaluate the safety and effectiveness of a vaccine that targets the Covid omicron variant, as concerns grow that the current shots aren't holding up against infections and mild illness caused by the strain discovered just over two months ago. (CNBC)