Stock futures go down after major averages start the week with more losses.

Stock futures went in the opposite direction Tuesday morning after the Bank of Japan said it would change its yield target range.

Futures that were based on the Dow Jones Industrial Average dropped by 236 points, or 0.72 percent. Futures for the S&P 500 and the Nasdaq 100 fell by 0.86 and 1.05 percent, respectively.

The Dow lost more than 162 points, or about 0.5%, during regular trading on Monday. The S&P 500 went down by 0.9%, and the Nasdaq Composite fell by almost 1.5%. Stocks are on track to end the month and the year in the red, and investors' hopes for a Santa Claus rally are quickly fading.

"Santa has still not been seen. Louis Navellier, who started the growth investing firm Navellier & Associates, told people to "buckle up." "It would be nice to think that all the bad news has been said. The Fed won't change anything until at least February. We're not going backwards, but we're also not making up for what we lost last week."

Investors were worried that the Federal Reserve could push the economy into a recession. Last week, the central bank raised its benchmark interest rate by 50 basis points, and policymakers said the final rate could go as high as 5.1%.

Other hawkish central banks, like the European Central Bank, put more pressure on traders. For example, the European Central Bank raised interest rates last week and said it plans to raise them again.

Lawrence Gillum, a fixed income strategist at LPL Financial, said, "More than 90% of central banks have raised interest rates this year. This is the first time that so many (mostly global) banks have acted in such a coordinated way." "What's good? We think that these cycles of raising interest rates are coming to an end, which could reduce the headwind that has been hurting the global financial markets this year.

This week, before the Christmas holiday, a few big companies will report their quarterly results. Tuesday morning, General Mills will report before the opening bell. After the bell, Nike and FedEx will report.

Tuesday morning, economic data about housing starts in November will be released. This week should give us a lot of information about the housing market. On Wednesday and Friday, sales numbers for existing homes and new homes will be made public.

On Friday, the Fed will get the November personal consumption expenditures report, which is a favorite way to measure inflation.