It looks like concerns linked to the mortgage and housing markets may take a chunk out of equities Tuesday:

If futures contracts traded on a day when U.S. stocks weren’t even due to open are anything near accurate, then markets will be in for a major decline on Tuesday, with concerns about bond insurers and the health of financial institutions dragging markets lower. The Dow Jones Industrial Average futures contract was recently off 520 points at 11,586, the Nasdaq futures were at 1773.25, down 76.25, and the Standard & Poor’s 500 futures recently were at 1265, down 60.3.

It’s worth noting that fear of a housing-induced cold in the U.S. already has the rest of the world coughing.