S&P 500 futures fell in early Tuesday morning trade, as the momentum from a sharp rebound last week appeared to fade.
Futures for the Dow Jones Industrials docked 209 points, or 0.6%, Tuesday to 32,949.
Futures for the S&P 500 fell 22.25 points, or 0.5%, to 4,133.50.
Futures for the NASDAQ Composite index sank 15.75 points, or 0.1%, to 12,662.
U.S. markets were shuttered Monday for Memorial Day.
Traders will look through more corporate quarterly earnings during the holiday-shortened week. Salesforce, HP and Victoria's Secret are expected to report earnings on Tuesday after the bell.
Tuesday's moves came amid mounting concerns that rising inflation in the U.S. and around the world could slow down economic growth. In Europe, euro zone inflation hit a record high for a seventh straight month, surging 8.1% in May.
In the U.S., the core personal consumption expenditures price index — the Fed's preferred inflation gauge — rose by 4.9% in April from a year ago.
In Japan, the Nikkei 225 backpedaled 0.3% Tuesday. In Hong Kong, the Hang Seng strengthened 1.4%.
Oil prices gained $3.67 to $118.74 U.S. a barrel.
Gold prices dropped $4.30 to $1,847 U.S. an ounce.