U.S. stock futures fell Monday following a halt in the summer rally last week, as fears of aggressive interest rate hikes returned to Wall Street.
Futures for the Dow Jones Industrials cratered 308 points, or 0.9%, early Monday to 34,398.
Futures for the S&P 500 fell 48.5 points, or 1.2%, to 4,183
Futures for the NASDAQ Composite sank 201 points, or 1.5%, to 13,068.50.
Those moves come as European markets experienced steep declines, driven in part by worries of rising inflation and higher interest rates around the world.
Investors are anticipating what could be a volatile week of trading ahead of Fed Chairman Jerome Powell's latest comments on inflation at the central bank's annual Jackson Hole economic symposium.
On the earnings front, traders are expecting Palo Alto Networks and Zoom Video to report results Monday after the bell.
In Japan, the Nikkei 225 index fell 0.5%, while in Hong Kong, the Hang Seng index descended 0.6%,
Oil prices dropped 22 cents to $90.55 U.S. a barrel.
Gold prices chucked $16.00 to $1,746.90 U.S. an ounce.