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The broad market exchange-traded fund SPDR S&P 500 ETF Trust 
SPY was down 2.5% and the actively traded Invesco QQQ Trust 
QQQ was 2.6% lower in Monday’s premarket activity as investor concerns intensified over President Trump’s sweeping tariffs and their potential to trigger a global recession.
US stock futures were also lower, with S&P 500 Index futures down 2.4%, Dow Jones Industrial Average futures retreating 2.5%, and Nasdaq futures losing 2.5% before the start of regular trading.
The consumer credit report for February will be released at 3 pm ET.
In premarket activity, bitcoin was up by 1.1% and the cryptocurrency fund ProShares Bitcoin Strategy ETF 
BITO was 1.6% higher.
Power Play:
Technology
Technology Select Sector SPDR Fund 
XLK fell 3%, and the iShares US Technology ETF 
IYW was 2.8% lower, while the iShares Expanded Tech Sector ETF IGM lost 3%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF XSD declined 4.6%, while the iShares Semiconductor ETF SOXX retreated 3.8%.
Taiwan Semiconductor Manufacturing 
2330 shares were down nearly 7% in Monday’s premarket activity, leading a broad decline among large tech companies following the imposition of US tariffs on imports and after China responded with reciprocal duties on US products.
Winners and Losers:
Consumer
The Consumer Staples Select Sector SPDR Fund 
XLP was down 1%, while the Vanguard Consumer Staples Fund 
VDC retreated 1.2%. The iShares US Consumer Staples ETF IYK declined 1.5%, and the Consumer Discretionary Select Sector SPDR Fund 
XLY fell 2.1%. The VanEck Retail ETF 
RTH was inactive, while the SPDR S&P Retail ETF XRT lost 3.3%.
NIO 
NIO shares were down 6% pre-bell after Reuters reported the company is in discussions for Chinese battery giant CATL to buy a controlling stake in its power unit.
Energy
The iShares US Energy ETF IYE was down 2.3%, while the Energy Select Sector SPDR Fund 
XLE was 2.2% lower.
Shell 
SHEL stock was down more than 5% before Monday’s opening bell after the company said it lowered its Q1 liquefied natural gas production outlook to between 6.4 million and 6.8 million metric tons from its previous forecast of 6.6 million to 7.2 million metric tons, citing weather impact and unplanned maintenance, including in Australia.
Health Care
The Health Care Select Sector SPDR Fund 
XLV retreated 1.5%. The Vanguard Health Care Index Fund VHT was down 1.4% while the iShares US Healthcare ETF IYH fell 2.4%. The iShares Biotechnology ETF IBB was 2.4% lower.
Viatris 
VTRS stock was up 2% premarket after the company said it plans to settle opioid-related claims through a nationwide settlement framework.
Financial
Financial Select Sector SPDR Fund 
XLF retreated 2.8%. Direxion Daily Financial Bull 3X Shares 
FAS fell 7.9%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares FAZ was 7.5% higher.
Walker & Dunlop 
WD shares were down 1.7% pre-bell Monday after the company said it arranged a $168 million loan to refinance the Park Sierra garden-style apartment building in Santa Clarita, California.
Industrial
Industrial Select Sector SPDR Fund 
XLI retreated 1.7%, and the Vanguard Industrials Index Fund VIS was down 2%, while the iShares US Industrials ETF (IYJ) was inactive.
Maximus 
MMS stock was up 4.5% before the opening bell after the company maintained its quarterly dividend at $0.30 a share.
Commodities
Front-month US West Texas Intermediate crude oil was down 2.1% at $60.67 per barrel on the New York Mercantile Exchange. Natural gas advanced 0.4% to $3.85 per 1 million British Thermal Units. United States Oil Fund 
USO lost 3.7%, while the United States Natural Gas Fund UNG was 1.7% higher.
Gold futures for June gained 0.7% to reach $3,055.60 an ounce on the Comex, while silver futures advanced 3.9% to $30.38 an ounce. SPDR Gold Shares GLD was down 0.4%, and the iShares Silver Trust SLV was 0.6% higher.
