Futures for the Dow Jones Industrials dumped 191 points, or 0.6%, early Monday to 31,119.
Futures for the S&P 500 fell 29.25 points, or 0.8%, to 3,872.
Futures for the NASDAQ Composite index dropped 113 points, or 0.9%, to 12,038.50.
Wall Street is coming off a mixed session in which the Dow and S&P 500 fell slightly, while the NASDAQ Composite rose for a fifth straight day.
All of the major averages secured a winning week after a stronger-than-expected jobs report Friday showed that the economic downturn worrying investors has not yet arrived and added to positive sentiment.
Twitter shares fell 5% in the premarket after Elon Musk terminated a deal worth $44 billion to buy the social media company.
The billionaire took issue with the number of bots and fake accounts on the platform and said Twitter wasn’t being truthful about how authentic activity on the platform was. However, the company said it gave Musk the information he needed to assess the claims.
PepsiCo and Delta Air Lines are scheduled to report earnings Tuesday and Wednesday. JPMorgan Chase, Morgan Stanley, Wells Fargo and Citigroup are set to report at the end of the week.
Investors are also looking ahead to the release of June’s consumer price index on Wednesday, which is expected to show headline inflation, including food and energy, rising above May’s 8.6% level.
In Japan, the Nikkei 225 gained 1.1% Monday. In Hong Kong, the Hang Seng lurched lower by 2.8%
Oil prices removed $2.94 to $101.85 U.S. a barrel.
Gold prices flopped $9.40 to $1,732.90 U.S. an ounce.