Market snapshot
- ASX 200 futures: -4.3% to 7,388 points
- Australian dollar: -4.6% to 59.87 US cents
- Wall Street (Friday): Dow -5.5%, S&P 500 -6.0%, Nasdaq -6.1%
- Europe (Friday): DAX -5.0%, FTSE -5.0%, Eurostoxx -4.8%
- Spot gold (Friday): -2.4% to $US3,037/ounce
- Brent crude (Friday): -6.5% to US$65.58/barrel
- Iron ore (Friday): -1.2% to $US100.60/tonne
- Bitcoin: -5.0% to $US78,920
Prices current at around 6.40am AEST
Good morning
Good morning and welcome to another week on the ABC markets and finance blog.
Stephen Letts from ABC business team limbering up for a blow-by-blow coverage of the day’s events, where every post is hopefully a winner, but none should be construed as financial advice.
In short, it looks like a brutal day on the markets with an acceleration from Friday’s big sell off expected.
Futures trading points to the ASX falling more than 4% on opening after all key US indices nose-dived on Friday.
And there’s no respite at hand.
All global markets are still flashing red, and such was the log jam in off-loading shares in the final chaotic hour on Wall Street that futures trading there for Monday’s opening looks even more grim.
There will be a blizzard of news and commentary about the unfolding situation, and we will sift through the essentials for you to keep you right up to date.
As always, the game’s afoot, so let’s get blogging.
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