Nasdaq futures led U.S. equity indexes lower in early European trade as global tech stocks weakened following equity and bond issues from the sector in Asia. With Alibaba planning to raise $10.2 billion for AI investment via a share placement and Chinese memory chipmaker YMTC on track for a $4.9 billion Shanghai IPO, markets are worried about equity dilution from massive share supply hitting the market. Asian and European AI-linked stocks fell in response, while Nasdaq futures traded slightly lower.

Meanwhile, investors are digesting the implications of the collapse in trade talks between the U.S. and Canada. Wine, hockey sticks and cement are among the Canadian goods facing fresh 50% tariffs. Pressure on longer-dated U.S. Treasurys in the early European morning eased slightly as oil fell from its highs at the end of last week.

Bitcoin pulled back from its Friday highs over the weekend, while the dollar climbed slightly. Precious metals extended their recent rally. Later Monday, Treasury Secretary Scott Bessent will hold a press conference detailing planned U.S. economic sanctions on Iran, while the Federal Reserve Bank of Chicago will issue U.S. activity data for July.

For the week ahead, investors watch for Nvidia earnings and U.S. inflation data Wednesday, ahead of Fed Chair Kevin Warsh’s appearance at the Jackson Hole symposium Friday.