(Bloomberg) -- Asian stocks fell along with U.S. and European equity futures, paring a sliver of the gains in a record month for global equities driven by optimism that coronavirus vaccines will aid the global economy. Oil retreated.A gauge of Asian shares dropped the most in a month on Monday, with Japan, South Korea and Hong Kong posting some of the biggest equity-market declines. S&P 500 contracts began the week higher before slipping.Chinese shares were more resilient as manufacturing sector activity picked up faster than expected in November. The central bank also unexpectedly injected funds into the financial system. China National Offshore Oil Corp. slumped after Reuters reported that it faces a U.S. blacklist.Oil retreated after an OPEC+ agreement to postpone an output increase planned for January remained elusive before a meeting Monday. A gauge of the dollar extended its recent retreat to the lowest level since April 2018. Gold dropped.On Sunday, U.S. Surgeon General Jerome Adams said the federal government hopes to quickly review and approve requests from two big drugs makers for emergency approval of their Covid-19 vaccines.Global equities are up 13% in November after positive vaccine news spurred a brighter outlook for the global economic recovery in 2021, even as a number of countries wrestle with a winter resurgence of the pandemic. Goldman Sachs Group Inc. expects a large proportion of the public across major developed economies to receive a vaccine by the middle of next year, driving a “sharp pickup” in global growth. “As long as the trajectory in economic data is one for improvement, then there is room for the cyclical areas to outperform,” Nader Naeimi, a multi-asset fund manager at AMP Capital Investors Ltd., said on Bloomberg TV. “Those cyclical, value areas are likely to be beneficiaries of the environment we are going into post vaccine and more normalization.”A full meeting of OPEC and its allies will take place Monday, and unless an agreement is revised this week, they will restart about 1.9 million barrels a day of halted output, threatening to undermine the recent surge in crude prices.These are some key events coming up:OPEC holds a virtual full ministerial meeting to make a final decision on whether a production supply hike should proceed as scheduled in January.The Reserve Bank of Australia holds a policy meeting on Tuesday.Federal Reserve Chairman Jerome Powell testifies before Congress on Tuesday and Wednesday.The U.S. employment report on Friday is expected to show more Americans headed back to work in November, though at a slower pace than last month.Here are the main moves in markets:StocksS&P 500 futures dipped 0.8% as of 7:05 a.m. in London. The gauge rose 0.2% on Friday.Japan’s Topix index fell 1.8%.Hong Kong’s Hang Seng declined 1.6%.South Korea’s Kospi index slid 1.6%.Australia’s S&P/ASX 200 Index dropped 1.3%.Euro Stoxx 50 futures fell 0.8%.CurrenciesThe yen was at 103.96 per dollar, up 0.1%.The offshore yuan traded at 6.5861 per dollar, down 0.2%.The euro bought $1.1964.The Bloomberg Dollar Spot Index dipped less than 0.1%.BondsThe yield on 10-year Treasuries was at 0.83%.Australia’s 10-year yield held at 0.90%.CommoditiesWest Texas Intermediate crude fell 1.6% to $44.81 a barrel.Gold was at $1,775 an ounce, down 0.7%.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2020 Bloomberg L.P.