Stocks extended last week's losses on Monday as concerns over the U.S. economy continue to weigh on the market. The Nasdaq 100 saw the steepest declines, with Tesla, Inc. (NASDAQ:TSLA) and Palantir Technologies, Inc. (NASDAQ:PLTR) leading tech companies lower. The S&P 500 and Dow Jones were also firmly red in midday trading. 

President Donald Trump seemed to acknowledge the possibility of a U.S. recession in an interview with Fox News on Sunday when he referred to the current economic situation as a "period of transition" further fueling economic concerns.

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Last week, Fed Chair Jerome Powell acknowledged the current economic uncertainty and investors look to this week's Consumer Price Index and Producer Price Index data, ahead of next week's Federal Open Market Committee meeting. February's jobs report released last week signaled a softening labor market and the ISM Manufacturing PMI showed firms are already experiencing disruptions from the Trump administration's tariff policies.

The yield on U.S. 10-year Treasury note fell to 4.23% on Monday amid economic uncertainty and the iShares 20+ Year Treasury Bond ETF (NASDAQ:TLT) rose 1.33%. 

U.S. natural gas futures rose as high as $4.60 MMBtu driven by extremely cold weather across North America and Europe, supply constraints and record LNG exports. The United States Natural Gas Fund LP (NYSE:UNG) was up 3.21% midday. 

Bitcoin (CRYPTO: BTC) traded below the $80,000 level, down nearly 17% for the month. 

Monday’s Performance In Major U.S. Indices, ETFs

According to Benzinga Pro data:

• The SPDR S&P 500 ETF Trust (NYSE:SPY) fell 2.22% to $563.13.
• The SPDR Dow Jones Industrial Average (NYSE:DIA) was down 1.24% at $422.96.
• The tech-heavy Invesco QQQ Trust Series (NASDAQ:QQQ) dropped 3.33% to $475.43.
• The iShares Russell 2000 ETF (NYSE:IWM) slipped 1.56% to $202.74.
• The Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) fell 2.62% to $200.28.
• The Energy Select Sector SPDR Fund (NYSE:XLE) rose 0.77% to $88.08.

Monday's Stock Movers 

Shares of Redfin, Corp. (NASDAQ:RDFN) soared after Rocket Companies, Inc. (NYSE:RKT) announced it would acquire the company in a $1.75 billion all-stock transaction.  

Stocks reacting to company earnings reports included: 

• Aligos Therapeutics, Inc. (NASDAQ:ALGS)
• Fennec Pharmaceuticals Inc. (NASDAQ:FENC)
• BioNTech SE (NASDAQ:BNTX) 
• Telos Corp. (NASDAQ:TLS)
• Rand Capital Corp. (NASDAQ:RAND)
• NET Power Inc. (NYSE:NPWR)

Companies reporting on after the bell include:

• Oracle Corp. (NYSE:ORCL)
• Vail Resorts, Inc. (NYSE:MTN)
• Asana, Inc. (NYSE:ASAN)
• LifeMD, Inc. (NASDAQ:LFMD)
• Grupo Supervielle S.A. (NYSE:SUPV)
• Hesai Group (NASDAQ:HSAI)
• Redwire Corp. (NYSE:RDW)

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