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

Stock futures went down Tuesday morning after the Bank of Japan said it would increase the range of its yield target.

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

During Monday's regular trading, the Dow lost more than 162 points, which is about 0.5%. The S&P 500 fell by 0.9%, and the Nasdaq Composite lost nearly 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 disappearing.

"Santa hasn't been seen yet. Louis Navellier, who started the growth investing firm Navellier & Associates, told his clients to "buckle up." "One would like to believe that all the bad news has been told. The Fed won't do anything else until at least February. We're not getting worse, but we're also not making up for what we lost last week."

Investors 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 that 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, last week the European Central Bank raised interest rates and said it expected more hikes in the future.

Lawrence Gillum, a fixed income strategist at LPL Financial, said, "More than 90% of central banks have raised interest rates this year, which is an unprecedented (mostly global) coordinated effort." "The good news is... We think that these cycles of raising interest rates are coming to an end, which could reduce the headwind that has been hurting global financial markets this year.

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

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

On Friday, the Fed will get the November personal consumption expenditures report, which is one of the best ways to measure inflation.