US stocks (^DJI, ^IXIC, ^GSPC) close Monday's trading session lower as Nvidia (NVDA) leads markets lower just ahead of fresh economic data coming later this week. New York Life Investments global market strategist Julia Hermann joins Market Domination Overtime Co-Hosts, Julie Hyman and Josh Lipton to discuss her market outlook.

Hermann says, "I think it's normal to see this level of market jitters, especially before such a big data print. The last inflation data that we get before the Fed's last meeting of the year."

She adds that Monday's pullback "also makes a lot of sense in the context of a very resilient economy but one that has been gradually decelerating toward trend growth. Now you can read both the weaknesses and the strengths in the data no matter which way you want to slice and dice it, but overall we're seeing a gradually decelerating economy and a spectrum of data that tells us that overall we need to be concerned, not necessarily about an imminent economic slowdown, but more of a calibration of Fed policy over the next year."

The strategist says, "We have essentially traded in election uncertainty for policy uncertainty, and we've seen that play out strongly in the market."

To watch more expert insights and analysis on the latest market action, check out more Market Domination Overtime here.

This post was written by Naomi Buchanan.