Global stocks fell in futures trading on Monday as traders monitor the latest developments in the Middle East, amid rising oil prices and corporate earnings reports due later this week.

In U.S. stocks, Dow Jones Industrial Average futures fell 229 points, or 0.43%, while S&P 500 futures lost about 0.58%, and Nasdaq 100 futures dropped 1.37%.

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In Asia, most markets headed lower after giving up earlier session gains. South Korea's KOSPI index fell more than 7% to below 7000 points, hitting its lowest level since May 4. The KOSDAQ small-cap index dropped 1.98%. Japan's Nikkei 225 lost 1.57%, while the Topix index fell 0.52%.

In Europe, European stocks are expected to follow Asian markets lower after the U.S. and Iran exchanged new missile strikes over the weekend.

The Euro Stoxx 50 is expected to open sharply lower, with futures down about 0.97%. Germany's DAX is expected to start the new trading week down 1.12%. France's CAC 40 is expected to open Monday's trading down 0.82%, with the UK's FTSE 100 down about 0.39%, and Italy's FTSE MIB down 0.67%.