NEW YORK (TheStreet) -- Stock futures were under pressure on Tuesday, suggesting Wall Street would extend losses suffered over Monday's session, as Greece's future remained in the balance.
S&P 500 futures fell 0.18%, the Dow Jones Industrial Average dropped 0.13%, and the Nasdaq declined 0.28%.
U.S. housing starts in May fell 11.1% to an annual rate of 1.04 million from an originally estimated 1.14 million in April. The government revised April's housing starts rate to 1.17 million on Tuesday.
"Housing remains an area of focus for many and rightfully so," said Dan Greenhaus, chief strategist at BTIG Research. "While the May starts data was a bit of a disappointment, the permit data was much stronger than expected suggesting starts should continue to improve in coming months, supporting job creation and the broader economy."
European markets fell for a second straight session ahead of Greece and its European creditors' final round of negotiations on Thursday. Eurozone finance ministers are pushing Greece to introduce a round of austerity measures in exchange for further debt relief.
A compromise is looking unlikely, though, as Greek Finance Minister Yanis Varoufakis told a German newspaper that Athens would not be putting forth any new concessions. Greece has until the end of the month to repay its debts to the International Monetary Fund.
The Federal Reserve was also causing jitters on Tuesday as Fed members convene for their two-day meeting later in the morning. An announcement will be released and press conference held mid-afternoon Wednesday. Economists do not expect the Fed to raise interest rates until September at the earliest.