© Reuters.

By Oliver Gray 

Investing.com – U.S. stock futures eased in overnight trading Monday, with markets remaining closed for a public holiday after suffering heavy losses in the previous week as investors braced for further tightening of monetary policies from the U.S. Federal Reserve and rising chances of an economic downturn.

By 6:40pm ET (10:40pm GMT) , and were each trading 0.1% lower.

Ahead in the week, market participants will be closely following Fed Chair Jerome Powell’s before Congress Wednesday and Thursday. In addition, data is slated for release on Tuesday, while is due Thursday alongside preliminary and PMI prints.

Last week, the slid 4.8%, the dropped 5.8%, posting its biggest weekly loss since March 2020 and the slipped 4.8%, down 33% from its record high.

Meanwhile, cryptocurrencies recovered slightly after fell to a new 2022 low over the weekend.

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