09:49 AM EDT, 03/11/2024 (MT Newswires) -- US equities were in red territory after Monday's opening bell as traders looked ahead to the consumer inflation report due for release later in the week for clues on the direction of the Federal Reserve's future monetary policy.

Dow Jones Industrial Average declined 0.3%, S&P 500 fell 0.3%, and Nasdaq Composite was down 0.2%.

The consumer price index for February is scheduled for release Tuesday.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 0.9% at $81.31 and US West Texas Intermediate crude down 1.2% at $77.08, as traders anticipated inflation data which could influence future demand for crude.

In other world markets, Japan's Nikkei closed 2.2% lower, Hong Kong's Hang Seng ended 1.4% higher, and China's Shanghai Composite finished 0.7% higher. Meanwhile, UK's FTSE 100 declined 0.2% and Germany's DAX index fell 0.5% in Europe's early afternoon session.

In equities, shares of L.S. Starrett Company (SCX) were almost 59% higher in recent trading after the company agreed to a takeover by MiddleGround Capital. Sonnet Biotherapeutics Holdings ( SONN ) shares increased 0.8% after the company said its phase 1b/2a trial of a treatment candidate for chemotherapy-induced peripheral neuropathy met its phase 1b safety objective.

On the losing side, EQT (EQT) shares fell more than 9% after the company agreed to buy back its former Equitrans Midstream (ETRN) unit in an all-stock deal. Ainos (AIMD) shares decreased 16% after the company reported Friday lower annual revenue for 2023.