09:02 AM EDT, 08/05/2024 (MT Newswires) -- US equity futures fell pre-bell Monday after Friday's lackluster July jobs report fueled concerns over an economic slowdown.

Dow Jones Industrial Average futures fell 3%, the S&P 500 futures dropped 4.4%, and Nasdaq futures were down 5.8%.

Data released Friday by the Bureau of Labor Statistics showed the US economy added 114,000 jobs in July, well below estimates compiled by Bloomberg for a growth of 175,000 jobs.

Oil prices were lower, with front-month global benchmarks North Sea Brent crude down 1.6% at $75.55 per barrel and US West Texas Intermediate crude 2% lower at $72.05 per barrel.

The S&P Global services index, scheduled for release at 9:45 am ET, is seen coming in at 56.0 for July compared with 55.3 previously, according to estimates compiled by Bloomberg.

The Institute for Supply Management's non-manufacturing purchasing managers' index, due at 10 am ET, is expected to come in at 51.4 for July compared with June's 48.8.

In other world markets, Japan's Nikkei closed 12% lower, Hong Kong's Hang Seng ended 1.5% lower, and China's Shanghai Composite finished 1.5% lower. Meanwhile, the FTSE 100 was down 3.1%, and Germany's DAX index was 3.3% lower in Europe's early afternoon session.

In equities, shares of Apple ( AAPL ) were 10% lower pre-bell after Berkshire Hathaway (BRK., BRK.B) unloaded its stake in the company. Nvidia ( NVDA ) shares were down 14% on media reports that the company's new artificial intelligence chips could be delayed due to design issues.

On the winning side, Kellanova ( K ) shares were up 22% on media reports that Mars is considering the company's acquisition.