Stocks poised for sharply lower open ahead of the Fed's policy meeting

After stocks managed to recover somewhat late Monday from a triple digit skid, stock futures slumped Tuesday morning, pointing to a sharply lower open for the U.S. stock markets.

Despite the strong economic data of Monday, investors are jittery about the Federal Reserve two-day policy meeting that begins today. Another rate hike from Australia, poor results from UBS and weak European markets weigh on sentiment.

More here: Before the bell: Futures point to a sharply lower start