But concerns remain that the situation in Ukraine will continue to dominate the headlines, putting further strains on Russia's relationship with the U.S. and Europe. Russia is not backing away from plans to annex Ukraine's Crimea region despite targeted sanctions announced Monday.
"An expectation that the Federal Reserve will subtract an additional $10 billion from the current quantitative easing program has led to a notably softer start [in equities]," explained Brenda Kelly, chief market strategist at trading firm IG.
In other economic news, the U.S. government will publish home construction numbers from February, as well as the consumer price index, at 8:30 a.m. ET.
On the corporate front, shares Hertz(HTZ) announced quarterly earnings and said it would spin off its equipment rental business to pay off debt. DSW(DSW) will report earnings before the bell. Oracle(ORCL), Adobe Systems(ADBE), SolarCity(SCTY) and Pacific Sunwear(PSUN) will report after the close.
The stock price of Qiagen(QGEN) jumped in premarket trading after the German medical laboratory company announced a share buyback.