After the long weekend, stocks have some catching up to do, mainly on the selling front.
Spread betting quotes point to the S&P 500 opening at around 2,090, down from 2,103 on Friday’s close. The Dow Jones average is tipped to start at around 17,860, down 89 points from the end of last week.
Asian markets closed lower overnight and European traders’ screens are a sea of red this morning.
Things are just as bleak in the oil market, with the price of West Texas intermediate down 2.7% at US$47.65 a barrel.
In the circumstances it is no surprise to see the price of gold move up 0.8% to US$1,349.9-0 an ounce, while silver also feels some love, rising 1%.
Electric car maker Tesla Motors Inc (NASDAQ:TSLA) is expected to reverse when trading starts after a fatality involving one of its Model S cars that was in autopilot mode at the time of the crash.
The shares were off 4.4% in pre-market trading.