Stock futures fell on Tuesday evening after the S&P 500 posted its first back-to-back loss since early September.

Futures linked to the broad market index lost nearly 0.1%. Dow futures slid 126 points, or 0.3%, while Nasdaq 100 futures dropped 0.1%.

In after-hours action, McDonald's fell nearly 6%. The U.S. Centers for Disease Control and Prevention said an E. coli outbreak tied to the fast-food giant's Quarter Pounder burgers has resulted in 10 hospitalizations and one death. Starbucks tumbled 4% after the coffee chain issued preliminary quarterly results showing that its sales fell again.

In regular trading, the S&P 500 and the Dow Jones Industrial Average both posted marginal declines. The Nasdaq Composite, however, rose about 0.2%.

The 10-year Treasury yield has been on an upturn as of late, briefly topping 4.2% on Tuesday and keeping stocks under pressure.

Robust economic data and deficit worries are among the factors behind the rise in the 10-year Treasury yield – despite a half-point rate cut from the Federal Reserve in September. Traders are also growing concerned that central bank policymakers may be less inclined to reduce rates, even as the Fed had forecasted another half-point worth of trimming before the year ends.

To be sure, the backdrop for equities is still constructive, according to Jeff deGraaf, head of technical research at Renaissance Macro Research.

"The trends are still positive and we don't have a lot of near-term momentum, but that's not the end of the world by any means," he said Tuesday on CNBC's "Closing Bell." "In fact, a lot of times that results in a good setup because it's a consolidation."

"By investing today, the next three months historically are never brighter than they are here at the end of October," deGraaf added.

A slate of notable names will be reporting earnings on Wednesday. AT&T, Coca-Cola and Boeing are on deck before the bell, while Tesla and IBM will share results after the close.

Stocks making the biggest moves after hours

Check out some of the companies making headlines in extended trading:

• Texas Instruments — The semiconductor company added 2%. Third-quarter results topped analysts' estimates, as Texas Instruments reported earnings of $1.47 per share on revenue of $4.15 billion. Analysts sought earnings of $1.38 per share and revenue of $4.12 billion, per LSEG.
• Seagate Technology — The data storage company slipped 3.6%. Seagate's guidance for $2.3 billion in revenue for the fiscal second quarter was about in line with the Street's estimate for $2.29 billion, per LSEG. The company topped analysts' estimates on the top and bottom lines in the first quarter, however.
• Manhattan Associates — The supply chain software company declined nearly 7%. Manhattan Associates forecast full-year revenue in the range of $1.039 billion to $1.041 billion, while analysts polled by FactSet were expecting $1.04 billion.

Read the full list here.

— Brian Evans

Stock futures open lower

Stock futures were lower on Tuesday, after the S&P 500 closed lower for the second-consecutive day.

Futures tied to the Dow Jones Industrial Average pulled back 145 points, or 0.34%. S&P 500 futures were 0.11% lower, while Nasdaq 100 futures ticked down 0.13%.

— Brian Evans