U.S. stock markets experienced a downturn as major indices, including the S&P 500 and Nasdaq, retreated from record highs. Stock futures indicated a lower open earlier in the week, with investors preparing for a busy trading period. The S&P 500 hit a new monthly low, and the VIX, a measure of market volatility, saw a significant increase. Trading volumes were notably low, with $SPY recording only 5.45 million shares traded within the first 1 hour and 20 minutes of the session. Market sentiment appeared bearish, with $QQQ showing choppy bearish trends and analysts cautioning against long positions due to unfavorable trends.