U.S. stock futures gyrated wildly early Tuesday in the wake of a market sell-off on Wall Street that saw the Dow Jones Industrial record its largest ever single-day point loss.

Several hours ahead of the market open in New York, Dow futures moved in and out of positive territory, while Monday's market rout weighed on Asian and European bourses.

Tokyo's benchmark ended 4.7% lower at 21,610.24. The Shanghai Composite index fell 3.4% to 3,370.65. In Britain, the FTSE 100 index skidded 1.6% in intraday trading. European benchmark indexes from Paris to Frankfurt declined by similar amounts.

On Monday, the Dow declined 1,175 points, or 4.6%, to 24,346, while the S&P 500 fell 4.1% and the Nasdaq Composite 3.8%. The Dow's dive, its biggest one-day point loss since August 2011, came as investors fretted over inflation creeping higher and the prospect of rising interest rates. Both of these things stoked fears that economic expansion and a prolonged share price rally could be derailed earlier than anticipated.