stock index futures fell early Wednesday after the major averages jumped in regular trading hours, attempting to claw back some losses following weeks of selling.

Futures contracts tied to the Dow Jones Industrial Average fell 420 points or 1.4%, while S&P 500 futures declined 1.6%.

The Nasdaq Composite advanced 2.51% on Tuesday, following its tenth week of losses in the last 11 weeks.

or global recession in '22 or '23 in our base case, but it's clear that the risks of a hard landing are rising," UBS said Tuesday in a note to clients.

"The main reasons are that our baseline growth path is now lower and that we are increasingly concerned that the Fed will feel compelled to respond forcefully to high headline inflation and consumer inflation expectations if energy prices rise further, even if activity slows sharply," the firm said in a note to clients.

and the actions it takes going forward have had time to work through the system," Oppenheimer said Tuesday in a note to clients