Australia’s share market is expected to follow the US down amid continued fears about the impact on the global economy of the coronavirus.
The SPI200 futures contract was down 119 points, or 1.71 per cent, at 6,835 at 0800 AEDT on Monday.
The local bourse is likely to follow global markets down.
The Dow Jones was down 603 points, or 2.1 per cent, the S&P 500 fell 58 points, or 1.8 per cent, and the NASDAQ was down by 148 points, or 1.6 per cent, at their close on Friday.
The Australian benchmark S&P/ASX200 index finished Friday up 8.8 points, or 0.13 per cent, at 7,017.2, while the broader All Ordinaries index gained 12.6 points, or 0.18 per cent, to 7,121.2.
There is a slew of local financial data to come this week as the reporting season kicks of in earnest.
But everyone will be watching to see what happens in China as the country prepares to reopen its stock markets for the first time since the outbreak of the deadly coronavirus.
The Australian dollar was buying 66.94 US cents at 0800 AEDT on Monday down from 67.19 US as the market closed on Friday.