Stocks fell on Monday as concerns over the global growth outlook for the economy continued to weigh on investor sentiment

The moves came amid a global stock decline in Monday’s session, both in Asian and Europe. Japan’s Nikkei 225 index dropped 3 percent, while German and French equities also declined.

Worries over the global growth economic outlook were stoked on Friday after the so-called yield curve inverted for the first time in more than a decade. The 3-month Treasury bill yield topped its 10-year counterpart on Friday, thus inverting the yield curve. Investors consider this to be a signal that a recession may be coming soon. Disappointing economic data released Friday out of Europe, coupled with a downgraded economic outlook from the Federal Reserve, added to those concerns.

Wall Street also watched shares of Apple as the tech giant is expected to unveil a new streaming service at an event later in the day. In the premarket, Apple traded 0.7 percent higher.