Around 8:30 a.m. ET, Dow Jones Industrial Average futures fell 105 points, indicating a decline of 72.05 points at the open. S&P 500 and Nasdaq 100 futures also fell to start off the week.
On Friday, the U.S. government said the unemployment rate in the U.S. fell last month to a level not seen in close to 50 years. Overall jobs creation disappointed for last month, but that was offset by sharp upward revisions for the number of jobs created in August and July.
U.S. Treasurys did not trade on Monday, however, as the bond market remained closed for Columbus day.
Investors also fretted over a decline in overseas stocks. Chinese stocks saw declines after the People's Bank of China (PBOC) announced measures on Sunday to cut the amount of cash that banks have to hold as reserves, with the reserve requirement ratios set to be slashed by 100 basis points, effective from next week. The news comes as the nation continues to battle with the U.S. over a tit-for-tat trade war, and is the fourth time the PBOC has slashed its reserve requirement ratio (RRR) in 2018.
The Shanghai Composite fell 3.7 percent overnight while Korean Kospi index pulled back 0.6 percent. In Europe, the Stoxx 600 index dropped 0.8 percent.