The broad market exchange-traded fund SPDR S&P 500 ETF Trust (SPY) was down 0.9% and the actively traded Invesco QQQ Trust (QQQ) was 1.1% lower in Monday's premarket activity as ongoing trade uncertainty stokes fears of inflation and potential interest rate hikes.

US stock futures were also lower, with S&P 500 Index futures down 1.1%, Dow Jones Industrial Average futures slipping 0.9%, and Nasdaq futures retreating 1.2% before the start of regular trading.

There are no economic reports scheduled to release on Monday.

In premarket activity, bitcoin retreated marginally by 0.01% and the cryptocurrency fund ProShares Bitcoin Strategy ETF (BITO) was 5.2% lower.

Power Play:

Health Care

The Health Care Select Sector SPDR Fund (XLV) retreated 0.7%. The Vanguard Health Care Index Fund (VHT) was down 0.2% while the iShares US Healthcare ETF (IYH) slipped 0.3%. The iShares Biotechnology ETF (IBB) was inactive.

Checkpoint Therapeutics (CKPT) stock was up more than 67% premarket after the company agreed to be acquired by India's Sun Pharmaceutical Industries for $4.10 per share in cash plus a non-transferable contingent value right.

Winners and Losers:

Energy

The iShares US Energy ETF (IYE) was inactive, while the Energy Select Sector SPDR Fund (XLE) was down by 0.2%.

Veren (VRN) shares were up 15% before Monday's opening bell after the company agreed to merge with Whitecap Resources in an all-stock deal valued at about 15 billion Canadian dollars ($10.40 billion).

Financial

Financial Select Sector SPDR Fund (XLF) was down 1.2%, Direxion Daily Financial Bull 3X Shares (FAS) fell 3.2%, while its bearish counterpart Direxion Daily Financial Bear 3X Shares (FAZ) was 3.3% higher.

Rocket Companies (RKT) shares were down more than 8% pre-bell Monday after the company agreed to buy Redfin (RDFN) for $12.50 a share. Redfin stock was up more than 66% pre-bell.

Industrial

Industrial Select Sector SPDR Fund (XLI) retreated 0.9%, the Vanguard Industrials Index Fund (VIS) was down 1.7% and the iShares US Industrials ETF (IYJ) was nearly 1% lower.

Emerson (EMR) stock was down 2.3% before the opening bell after the company extended the expiration of its tender offer to buy Aspen Technology (AZPN) to Tuesday.

Technology

Technology Select Sector SPDR Fund (XLK) retreated 1.3%, and the iShares US Technology ETF (IYW) was 1.2% lower, while the iShares Expanded Tech Sector ETF (IGM) was down 1%. Among semiconductor ETFs, SPDR S&P Semiconductor ETF (XSD) declined 1.3%, while the iShares Semiconductor ETF (SOXX) fell 1.7%.

Taiwan Semiconductor Manufacturing (TSM) shares were down 1.6% in recent Monday premarket activity after the company reported lower monthly net revenue for February.

Consumer

The Consumer Staples Select Sector SPDR Fund (XLP) was down 0.4%, while the Vanguard Consumer Staples Fund (VDC) was up 0.1%. The iShares US Consumer Staples ETF (IYK) was inactive, and the Consumer Discretionary Select Sector SPDR Fund (XLY) lost 1.1%. The VanEck Retail ETF (RTH) was inactive, while the SPDR S&P Retail ETF (XRT) declined 0.5%.

Nike's (NKE) shares were down 1.2% pre-bell after the Liverpool Football Club announced Adidas as its official kit partner, replacing Nike.

Commodities

Front-month US West Texas Intermediate crude oil advanced 0.5% to $67.36 per barrel on the New York Mercantile Exchange. Natural gas gained 4.3% to reach $4.59 per 1 million British Thermal Units. United States Oil Fund (USO) was up 0.5%, while the United States Natural Gas Fund (UNG) rose 4.2%.

Gold futures for April declined 0.3% to $2,906.70 an ounce on the Comex, while silver futures gained 0.3% to reach $32.92 an ounce. SPDR Gold Shares (GLD) retreated 0.2%, and the iShares Silver Trust (SLV) was 0.03% higher.