Stocks: Starting the week in the red

All major U.S. stock indexes fell by roughly 2% last week, though this comes after equity markets have marched up by well over 10% over the past few months.

NEW YORK (CNNMoney)

U.S. stock futures were in the red Monday, with all three major indices heading for a lower open after a weak performance by markets in Asia.

Investors begin the week still mulling the latest message from Federal Reserve chairman Ben Bernanke.

Bernanke said at a press conference last week that the central bank could slow the pace of its bond-buying program later this year if the economy continues to improve.

The Fed's stimulus program has been a major driver of the bull market, and worries over its longevity are likely to generate market volatility in the months ahead.

Related: Fear and Greed Index

All three major U.S. stock market indexes ended lower last week, as investors were spooked by Bernanke's comments. The Dow Jones Industrial Average, the S&P 500 and the Nasdaq were all down by roughly 2% for the week.

Despite last week's sell-off, stocks are still way up for the year. The Dow, S&P 500 and Nasdaq have gained between 11% and 13% since the start of January.

In international markets, European stocks were little changed in morning trading, but Asian markets ended with significant losses.

The People's Bank of China told the country's largest banks Monday to rein in risky loans and improve their balance sheets, a warning that sent a jolt through already unsettled equity markets.

The Shanghai Composite index was hardest hit, registering a decline of 5.3%. The Hang Seng in Hong Kong also lost nearly 3%. Japan's Nikkei index declined by 1.3%.

First Published: June 24, 2013: 4:22 AM ET

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