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U.S. stock index futures posted sharp declines ahead of Monday's open, extending losses from the previous session on Wall Street.
On Friday, U.S. stocks finished deep in the red, after a stronger-than-expected jobs report sent interest rates higher.
The Dow Jones industrial average sank 665.75 points to close down at 25,520.96, capping off the index's sixth-largest points decline ever, with other major indexes also posting sharp declines.
The negative trade comes after the Labor Department published its latest nonfarm payrolls report. On Friday, it was revealed that the U.S. economy had added 200,000 jobs in January, beating a Reuters economists' poll of 180,000.
The nonfarm payrolls report saw interest rates jump, with the 10-year Treasury yield hitting a four-year high, after the report highlighted that wages had risen by 2.9 percent on an annualized basis. Consequently, the news dampened sentiment to markets worldwide.
Today, earnings and data are set to be at the front of investors' minds. Services purchasing managers' index (PMI) data is due out at 9:45 a.m. ET, followed by the non-manufacturing ISM report on business at 10 a.m. ET.
In the central banking space, former Fed Governor Jerome Powell is taking on the role of chair of the U.S. Federal Reserve, inheriting the position from the first female chair, Janet Yellen. No speeches by members of the U.S. central bank are set to take place.
Elsewhere, oil prices came under pressure in morning trade.
—CNBC's Fred Imbert contributed to this report