Major stock indexes eased on Monday after Federal Reserve Chair Jerome Powell indicated a September interest rate cut was likely but not certain, causing the dollar to gain. Brokerages expect a 25-basis-point cut, with Fed funds futures traders pricing in 84% odds of a September cut. Data for August could sway Fed policy, with U.S. personal consumption prices reading due on Friday. U.S. producer price data raised questions over a cut. Nvidia’s results are expected Wednesday. The Dow fell 349.27 points, the S&P 500 fell 27.59 points, and the Nasdaq fell 47.24 points.

Keurig Dr Pepper is set to create a global coffee giant with an $18 billion takeover of JDE Peet’s. London markets were closed for a holiday. U.S. President Donald Trump expressed interest in meeting with North Korean leader Kim Jong Un and further trade talks with South Korea. The Korean won weakened 0.5% against the dollar. The dollar index rose to 98.39, with the euro down at $1.1623 and the dollar strengthened against the Japanese yen. U.S. Treasury yields rose as auctions are prepared for this week, with the yield on U.S. 10-year notes rising to 4.277%.

Oil prices extended gains as traders anticipated more U.S. sanctions on Russian oil and Ukrainian attacks on Russian energy infrastructure. U.S. crude futures settled at $64.80 a barrel, while Brent futures were at $68.80. Spot gold fell to $3,364.47 an ounce. Euro zone bond yields rose, reversing a late Friday fall.

Read more at Yahoo Finance: Stocks decline after Friday’s jump, US dollar climbs