E-mini Russell 2000 futures fell for a second consecutive session as probabilities of a September rate hike increased. The CME FedWatch Tool now indicates a 62.4% probability of a 25 bps increase at the upcoming Federal Reserve meeting, posing a headwind for small-cap equities carrying floating-rate debt. Meanwhile, the Treasury tripled its debt buyback operations to $6 billion as long-end yields remained elevated, adding further pressure to equity markets.