Stock futures were little changed in overnight trading as investors prepared for a key inflation report.
The futures on the S&P 500 and the Nasdaq 100 rose marginally higher.
The consumer price index for March is expected to be released on Tuesday. The data is expected to show an 8.4% annual increase in prices, the highest level since December 1981 and the main contributors to the spike are rising food costs, rents and energy prices.
The consumption deflator is going to peak somewhere between 6 and 7% by the second half of the year, and then the consumer price index is going to peak somewhere between 4% and 5% by next year.
The S&P 500 dropped 1.69% to 4,412.53, while the DJIA fell 1.19% to 34,308.08 during regular trading on Monday. The tech-laden index sank 2% to 13,411.96.
All 11 sectors ended the day in the red, with technology facing the most losses as investors continued to search for stability. Microsoft and Nvidia both dropped more than 5%.
Oil prices fell on fears that China could affect demand. In the last few weeks, oil prices have fluctuated, and on Monday they fell by 4% to $94.29 and by 4% to $98.48.
After closing its WarnerMedia spinoff, shares of AT&T rose more than 7%. Southwest and Delta Air Lines ended the day in the positive.
The yield on the 10-year Treasury reached its highest level in over a year.
The start of earnings season is set to kick off on Wednesday with several big banks, followed by Delta Air Lines on Thursday.
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