Stock futures plummeted on Monday as markets reckoned with a disappointing jobs report last week that fueled concern of a possible recession.

Each of the major stock indexes fell more than 2% in pre-market trading on Monday. The tech-heavy Nasdaq dropped nearly 6%.

The market downturn triggered calls for a large interest rate cut at the Federal Reserve's next meeting in September. Some investors voiced an even more urgent request for a rare emergency rate cut as soon as this week.

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Each of the major stock indexes fell more than 2% in early trading on Monday.{ai:summary}The stock market took a nosedive Monday, haunted by last week's dismal jobs report that sparked recession fears. Major indexes slumped over 2%, with the Nasdaq sinking nearly 6%. Urgent calls for aggressive interest rate cuts from the Fed echoed through the trading floors. #economy

Stock futures tumble as recession fears fuel calls for interest rate cut

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