NEW YORK (TheStreet) -- The global stock selloff isn't over yet, but U.S. stock futures are bouncing back anyway. After a tumultuous day in U.S. markets, Asian stocks traded lower again Tuesday. Japan's Nikkei 225 dropped another 3.96% to 17,806.70, rolling back prices to December 2014 levels. In China, the Shanghai Composite hurtled 7.63% lower to 2,965.15. The Hang Seng index in Hong Kong rose 0.72% to 21404.96. U.S. stock futures, however, were trading sharply higher, signaling a higher open on Tuesday. Futures for the S&P 500 were rising by 3.18% in premarket trading, as the Nasdaq's futures jumped 3.5% higher and Dow Jones Industrial Average futures were up 3.1%. Still, the volatility that has followed the steep selloff in global markets is likely to continue. "The U.S. stock market is in a mode of uncertainty, at best," DoubleLine Capital's co-founder Jeffrey Gundlach told Reuters. "You don't correct all of this in three days." After opening with an historic 1,000-point drop on Monday, the Dow Jones Industrial Average swung wildly throughout the session before closing down 3.6% or 584 points. Must Read: 10 Big-Name Stocks That Are Already in Correction Territory The S&P 500 officially entered correction territory Monday, falling 11% from its May peak, after dropping more than 3.9% over the session. The S&P 500 and Dow are on track for their... More