The Dow, S&P 500 and the tech-heavy Nasdaq are down sharply as Facebook finds itself in hot water over reports that as many as 50 million of its users may have had their data compromised.
The Financial Stability Board said that cryptocurrencies do not pose a risk to the global financial system.
The three major averages are falling sharply on Monday.
The market was hit with a major selloff on Monday as a host of concerns rattled investors. The S&P 500 in particular fell below a key technical level.
Oracle Corp. is set to report earnings on Monday after the close. Strong results could impress Wall Street and help lift the negative narrative in the tech sector.