Global markets retreated Monday, with United States futures and Asian shares slipping amid renewed concerns over technology sector bubbles and uncertainty surrounding the nomination of Kevin Warsh to lead the Federal Reserve. South Korea's Kospi plunged 4.6 percent, driven by sharp declines in major tech stocks like Samsung Electronics and SK Hynix, while other regional indices, including Hong Kong's Hang Seng and Australia's S&P/ASX 200, also fell. Oil prices dropped more than two dollars a barrel, as comments from President Donald Trump regarding negotiations with Iran eased fears of supply disruptions.

Precious metals experienced dramatic swings, with gold falling 1 percent and silver rebounding after both saw steep declines on Friday, ending their record rallies. On Wall Street, losses were tempered by gains in Tesla and Apple following positive earnings reports, though metals miners suffered as gold prices tumbled. Investors remain cautious as they assess the potential impact of Warsh's nomination on future interest rate decisions, especially in light of hotter-than-expected inflation data and ongoing debate over the Federal Reserve's independence.