Futures for the Dow Jones Industrials plunged 225 points, or 0.7%, early Tuesday to 30,836.
Futures for the S&P 500 dropped 31.25 points, or 0.8%, to 3,796.
Futures for the NASDAQ Composite index stumbled 119.50 points, or 1%, to 11,491.75.
U.S. markets were closed Monday for the 4th of July.
Concerns about economic growth are hanging over investors as the U.S. market looks to recover after a rough first half to the year.
U.S. Treasury Secretary Janet Yellen and China’s Vice Premier Liu He held a virtual call on Monday stateside to discuss macroeconomic issues.
Markets finished one of the worst halves in decades on Thursday, and major averages posted their fourth week of losses in five despite modest gains during Friday’s trading session.
In this shortened holiday week, investors are looking ahead to the release of June jobs report data on Friday. According to Dow Jones estimates, job growth likely slowed in June with 250,000 nonfarm payrolls added, down from 390,000 in May. Economists surveyed expect the unemployment rate to hold at 3.6%.
This week’s economic calendar also includes Wednesday’s release of minutes from the Federal Reserve’s latest meeting. May factory orders are expected for Tuesday, with earnings from WD-40 and Levi Strauss scheduled for Friday.
In Japan, the Nikkei 225 gained 1% Tuesday. In Hong Kong, the Hang Seng inched 0.1%
Oil prices sank 18 cents to $10.8.25 U.S. a barrel.
Gold prices gave back $3.30 to $1,798.20 U.S. an ounce.