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NEW YORK (CNNMoney)
U.S. stock futures were roughly 0.5% weaker ahead of the open, with negative market sentiment blamed on hawkish statements from Chicago Federal Reserve president Charles Evans and Atlanta Fed president Dennis Lockhart.
"Both indicated the Fed could initiate tapering [to its bond-buying program] as early as September," said Ishaq Siddiqi, a market strategist at ETX Capital in London.
The prospect of the U.S. Federal Reserve cutting back on its massive quantitative easing campaign, which has helped push U.S. stocks to record highs, had the markets feeling "uneasy," he said.
Related: Fear & Greed Index
The move downward gathered pace Tuesday as U.S. stocks finished lower. Asian markets took up the trend early Wednesday -- Japan's Nikkei index declined by 4% as the yen continued to strengthen. The main indexes in China also dropped.
European markets were also in negative territory in morning trading, with the key indexes edging down by roughly 0.5%.
Despite the move lower, U.S. stocks have still gained 18% to 21% so far this year.
Related: Bank of America hit with government lawsuits
Earnings continue rolling in Wednesday, with quarterly results due before the opening bell from AOL (AOL) and CNNMoney parent Time Warner (TWX, Fortune 500). Tesla Motors (TSLA) is up in the afternoon.
First Solar (FSLR)shares sank in after-hours trading Tuesday after the company reported quarterly earnings that missed analyst estimates.
On the economic front, the U.S. Federal Reserve will release its monthly report on consumer credit at 3 p.m. ET. 
First Published: August 7, 2013: 4:56 AM ET
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