09:07 AM EDT, 04/07/2025 (MT Newswires) -- US equity futures were falling ahead of Monday's opening bell, extending last week's losses fueled by President Donald Trump's tariff policy.

The Dow Jones Industrial Average futures were down 1.8%, S&P 500 futures were 2.1% lower, and Nasdaq futures fell 2.2%.

Last week, the White House imposed sweeping tariffs against various countries, including China, which responded with its retaliatory tariffs.

Oil prices were lower, with front-month global benchmark North Sea Brent crude down 2.4% at $64.02 per barrel and US West Texas Intermediate crude 2.5% lower at $60.44 per barrel.

In other world markets, Japan's Nikkei closed 7.8% lower, Hong Kong's Hang Seng ended 13% lower, and China's Shanghai Composite finished 7.3% lower. Meanwhile, the UK's FTSE 100 was down 4%, and Germany's DAX index was 4.5% lower in Europe's early afternoon session.

In equities, shares of Viatris ( VTRS ) were 2% higher pre-bell after the company said it agreed to settle opioid-related claims through a nationwide settlement framework.

On the losing side, US Steel (X) shares were down 1.4% after current shareholder Ancora Holdings Group said it is filing a proxy statement with the US Securities and Exchange Commission for the nomination of nine director candidates for election to the company's board.