US stocks fell as investors turned their attention to key economic data this week.
The US producer price index (PPI) will be released on Tuesday, followed by inflation-influencing data, the US consumer price index (CPI), on Wednesday, both of which could influence the Fed's next move.
Meanwhile, investors are also watching corporate earnings from major banks, such as Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and Bank of America, which will report their quarterly results, which could influence market direction.
Last Friday, the stock market was impressed after a strong jobs report prompted investors to reconsider expectations of a possible interest rate cut by the Federal Reserve (Fed).
The Dow Jones and Nasdaq Composite both fell 1.63%, while the S&P 500 fell 1.54%.
Investors expect the Fed to keep interest rates at the same level for its January and March meetings.
