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Highlights
The Australian share market is poised to fall again on Monday.
According to the latest SPI futures, the ASX 200 would open 27 points or 0.4% lower.
On Wall Street, the Dow Jones fell 0.85%, the S&P 500 dipped 1.1%, and the NASDAQ ended 1% lower.
The Australian share market is poised to fall again on Monday following a dismal finish to the week last on Friday on Wall Street as hawkish tone from central bankers and weak data stoked recession fears.
According to the latest SPI futures, the ASX 200 would open 27 points or 0.4% lower. On Friday, the benchmark index ended 0.8% lower at 7,148.7 points.
On Wall Street, the Dow Jones fell 0.85%, the S&P 500 dipped 1.1%, and the NASDAQ ended 1% lower. US shares extended their slide, after data showed US business activity contracted further in December, but softening demand helped to significantly cool inflation.
In Europe, the Stoxx 50 fell 0.8%, the FTSE fell 1.3%, the CAC dropped 1.1%, and the DAX ended 0.7% lower.
MSCI's world stock index lost 1.1% and touched its lowest level in over a month.
In Asia, Japan's Nikkei index closed at its lowest in more than a month and MSCI's broadest index of Asia-Pacific shares outside Japan was set for its worst week in two months.
Bond yields
On Friday, benchmark 10-year yields were up three basis points (bps) to 3.48% and 30-year yields rose by four basis points to 3.533%.
The dollar index edged 0.23% higher, while the euro was down 0.3%.
Oil prices fall
Oil fell by more than US$2 per barrel on Friday, swept up in a wider rout in global equities on fears of a looming recession, after central banks across Europe and North America signalled, they will continue to battle inflation aggressively.
- Brent crude futures settled at US$79.04 per barrel, down 2.4%.
- WTI crude finished down 2.4% at US$74.29 per barrel.
Gold prices rise
Gold futures settled up 0.7% at US$1,800.20 per ounce. Interest rate hikes increase the opportunity cost of holding non-yielding bullion.
