Investors were concerned about the twin threats of slowing economic growth and persistent inflation in US equity index futures and European bonds.

Contracts on the S&P 500 and the NASDAQ 100 each fell at least 0.3% after the underlying indexes finished their 11th week of declines. As dip-buyers emerged, European stocks rose for the first time in four days.

The dollar has recovered its losses. Italian bonds fell as investors focused on domestic political tensions. The markets in the United States were closed for the Independence Day holiday.

After trading lower for the majority of the European session, the dollar was little changed on Monday. WSJ reported that US President Joe Biden may announce the elimination of some tariffs on Chinese imports as soon as this week.