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With less than one-half hour until Tuesday's open and a 75 basis-point Fed cut, this may not come into play, but note that stock index futures overnight price limits were already breached early this morning, causing index futures to cease trading even as European markets continued lower. Even if we're spared seeing the 'circuit breakers' tripped this morning, it's good to remember they exist.

Current limits, in effect until 9:30 AM, are as follows:

  • S&P 500: 1255.50
  • Dow: 11456
  • Nasdaq: 1744.50

Source: CME