The rise in Covid cases in China and the Restrictive Tone of the Fed should weigh on European stock markets. The Eurostoxx 50 opened at 3,840.01 points (-2.24%), the CAC 40 at 6,581.42 points (-1.99%), the DAX 40 at 14,142.09 points (-2.48%), the FTSE 100 at 7,521.68 points (-1.39%), the SMI at 12,258.33 points (-0.35%), the AEX at  717.26 points (-1.62%), the BEL 20 at 4,187.41 points (-1.84%), the IBEX 35 at 8,652.30 points (-1.84%), the DJIA at 33,811.40 points (-2.82%), the Nasdaq at 12,839.29 points (-2.55%), the S&P 500 at 4,271.78 points (-2.77%) and the Nikkei 225 at 26,619.53 points (-1.79%). 
Regarding the exchange rate, the change from the close in New York indicates that EUR/USD opened at 1.0785 (-0.15%), EUR/JPY at 138.43 (-0.30%) and USD/JPY at 128.36 (-0.15%).
Investors will react on Monday to the results of the second round of the presidential election, won by Emmanuel Macron with more than 58% of the vote. This victory against Marine Le Pen should reassure the financial markets who feared to see the candidate of the National Rally come to power. On the corporate side, Vivendi, Korian, Technip Energies and Bolloré publish their first quarter revenues. On Friday evening, Icade confirmed its outlook for 2022 as its consolidated revenue of the group increased by 6.1% in the first quarter.
European equity markets are expected to continue their decline on Monday, still penalized by the restrictive remarks of the members of the US Federal Reserve (Fed) and the fear of new lockdowns in China. At 7:25 a.m., the CAC 40 futures contract lost 57 points, or 0.9%, according to data from broker IG Markets. The DAX 40 contract gave up 205 points, or 1.5%, and the FTSE 100 contract gave up 90 points, or 1.2%.
On Friday, Wall Street closed sharply lower, concerned about the prospect of a sharp monetary tightening by the Federal Reserve (Fed) to combat inflation, which could significantly slow the economy. The Dow Jones Index (DJIA) fell nearly 1,000 points, or 2.8%, to 33,811 points, marking its worst session since October 2020. The S&P 500 index also gave up 2.8% to 4,271.78 points. The Nasdaq index, rich in technology stocks, dropped 2.6% to 12,838.29 points. Investors will be watching on Monday for a new wave of corporate releases in Europe and the United States, as well as the IFO Business Climate Index in Germany. The debate in the U.S. Senate for the confirmation of Lael Brainard as Vice Chairman of the Federal Reserve will also be followed.
U.S. Treasury yields fell on Monday as sovereign debt was sought after and investors braced for a tightening of the Fed's monetary policy. In Europe, the rating agency S&P on Friday raised Greece's long-term sovereign debt rating from "BB" to "BB+", with a stable outlook. The move reflects expectations of further improvements in the effectiveness of policies implemented in Greece, S&P.
The euro fell against the dollar on Monday morning, as the market remains concerned about the prospect of a sharp rise in interest rates in the United States.
Crude oil futures fell on Monday morning as rising Covid-19 cases in China and expectations of a Fed rate hike continued to cloud the outlook for energy demand. "The Covid situation in China appears to be moving in the wrong direction, with Beijing recording a spike in cases over the weekend. At 7:15 a.m., the June contract on North Sea Brent lost $3.06, or 2.9%, to $103.59 a barrel, while the same maturity contract on light sweet crude (WTI) listed on the Nymex fell $2.94, or 2.9%, to $99.15 a barrel.