S&P/ASX 200 (INDEXASX:XJO) opened down 0.21% and has trended down over the day to be down around 1% heading into the close.
Both the S&P 500 Index (INDEXSP:.INX) and the Nasdaq Composite (INDEXNASDAQ:.IXIC) finished over 1% lower last Friday putting Asian markets on notice today.
Although the local Australian market has been performing strongly since the shock election win last month, fears around trade negotiations continue to disrupt world markets.
Making things even harder for our local market, the US futures are pointing to a 0.5% loss for their Monday.
Australia's central bank, the RBA meets tomorrow to determine interest rate levels and the consensus is for a 25 basis point cut to the standing rate of 1.50%.
The Week’s Top 5 - 3 June 19 pic.twitter.com/epT9xdjlZ6
— CommSec (@CommSec) June 3, 2019