Global markets continue to see red, after Turkey's financial troubles sparked fear of contagion and the country's lira currency took a deep slide. On Friday, the lira temporarily tumbled 20 percent against the U.S. dollar, after President Donald Trump said he supported doubling metal tariffs on Ankara.
While the lira pared some losses over the weekend — after the Turkish central bank moved to improve liquidity and while Turkey's finance minister said the government had outlined an action plan to alleviate concerns — it still lost more than 45 percent of its value during this year alone, according to Reuters.
Elsewhere, concerns over the U.S.' future relations with major economies including China will remain in focus, as trade war tensions continue to escalate.
Little economic data is due Monday. The U.S. Treasury is scheduled to auction $51 billion in 13-week bills and $45 billion in 26-week bills. The size of a four-week bill, due to be auctioned Tuesday, will also be announced.