S&P 500 futures are down 37 points and are trading 1.0% below fair value.
Nasdaq 100 futures are down 152 points and are trading 1.3% below fair value.
Dow Jones Industrial Average futures are down 211 points and are trading 0.6% below fair value.
This is in front of a heavy slate of news this week, including earnings reports from over 100 S&P 500 companies headlined by Meta Platforms (META), Alphabet (GOOG), and Apple (AAPL).
Some of the more notable data releases this week include the Q4 Employment Cost Index, ISM Manufacturing and Non-Manufacturing Indexes, and the Employment Situation Report for January.
Several influential central banks are holding meetings this week, namely the Federal Reserve, the Bank of England, and the European Central Bank.
Investors are likely worried about the Fed pushing back against the recent market rally. Adding fuel to that worry, a Wall Street Journal Article over the weekend by Nick Timiraos indicated that Fed officials are concerned that inflation could reaccelerate due to tight labor markets.