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U.S. Stock Futures Rebound After Big Monday Losses; Asian Stocks Lower

NEW YORK (TheStreet) -- The global stock selloff isn't over yet, but U.S. stock futures are bouncing back anyway.

After a tumultuous day in U.S. markets, Asian stocks traded lower again Tuesday.

Japan's Nikkei 225 dropped another 3.96% to 17,806.70, rolling back prices to December 2014 levels. In China, the Shanghai Composite hurtled 7.63% lower to 2,965.15. The Hang Seng index in Hong Kong rose 0.72% to 21404.96.

U.S. stock futures, however, were trading sharply higher, signaling a higher open on Tuesday. Futures for the S&P 500 were rising by 3.18% in premarket trading, as the Nasdaq's futures jumped 3.5% higher and Dow Jones Industrial Average futures were up 3.1%.

Still, the volatility that has followed the steep selloff in global markets is likely to continue.

"The U.S. stock market is in a mode of uncertainty, at best," DoubleLine Capital's co-founder Jeffrey Gundlach told Reuters. "You don't correct all of this in three days."

After opening with an historic 1,000-point drop on Monday, the Dow Jones Industrial Average swung wildly throughout the session before closing down 3.6% or 584 points.

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