Markets traded lower with E-mini S&P 500 futures down 19 points (0.33%) after a 35-handle overnight move. NASDAQ fell 88 points, Russell down 11, and Dow down 142, all declining approximately one-third of a percent. Bitcoin dropped over $5,000 (4.5%) to early July lows, while Ethereum slipped 2%.

The pullback follows Jerome Powell's Friday speech signaling a September rate cut, which initially propelled markets higher. Futures currently price an 83% probability of a 0.25% reduction. Traders anticipate choppier market action until NVIDIA (NVDA) reports earnings Wednesday after close.

Natural gas continued its decline, falling another 1.5% to new lows at $2.76. Chinese stocks showed mixed results, with PDD reversing early gains to trade lower while Alibaba (BABA) and Baidu showed modest strength.