Markets are getting slammed

Stock futures are lower and the dollar is surging ahead of the market open on Tuesday.

Near 9:00 a.m. ET, futures on the Dow was down about 188 points, the S&P 500 was down about 21 points, and the Nasdaq was down about 39 points.

The dollar continues to surge following the rally on Friday when the jobs report showed better-than-expected employment growth. The Euro fell to as low as $1.0723 against the dollar, pushing below $1.08 for the first time in 11 years.

Gold rebounded after falling more than 2% in pre-market trading. The commodity fell nearly 3% on Friday, and according to Barclays, the strong US macroeconomic environment increases the downside risks for gold.

In economic data, the NFIB Small Business Optimism Index inched up to 98.0 from 97.9 last month.

And at 10:00 a.m. ET, we'll get more employment data when the Labor Department reports the latest Job Openings and Labor Turnover Survey.