Futures on Wall Street have tanked ahead of the resumption of regular trading after Monday's holiday. The Dow Jones futures are down nearly 750 points, while those on the S&P 500 are down 110. The Nasdaq futures are down close to 500 points.

The S&P 500 and Dow start the new year with record high closes. Investors shrug off Venezeula to focus on tech and the economy.

U.S. stocks ended mostly flat on Friday as investors weighed comments on geopolitics and the Federal Reserve from President Donald Trump, as well as digested quarterly reports from some major companies,

The Dow Jones Index futures retreated by over 250 points as investors reflected on major events, including the latest subpoena on the Fed

Banks and credit-card stocks dragged the Dow Jones Industrial Average and the S&P 500 lower on Tuesday, while December CPI inflation report showed inflation meeting expectations.

Both the S&P 500 and the Dow Jones set new records today, extending an "everything rally" that also saw gold, silver, and copper near their highs. It is unusual to see safe-haven assets surge alongside equities, and this shift in investor behaviour could be driven by geopolitical uncertainty and AI driven demand for metals.

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Follow all the latest U.S. market action for Tuesday here as investors face yet more Trump-induced trade turmoil and the corporate earnings season continues.

History makes it clear that a sizable stock market decline is expected in the presumed not-too-distant future. However, there's nothing in the 155 years of valuation data that suggests a stock market crash is imminent or that one will occur during President Trump's second year.