• Wall Street tumbled on Friday with more than 1,000 points knocked off the Dow in two days as investors, increasingly nervous about a potential U.S. trade war with China, shied away from risk ahead of the weekend and sought shelter from further losses.
The Dow Jones Industrial Average .DJI fell 424.69 points, or 1.77 percent, to 23,533.2, the S&P 500 .SPX lost 55.43 points, or 2.10 percent, to 2,588.26 after hitting an intraday low that was barely above its 200-day moving average of 2585.22.
The Nasdaq Composite .IXIC dropped 174.01 points, or 2.43 percent, to 6,992.67.
For the week, the Dow was down 5.67 percent, the S&P 500 was down 5.95 percent and the Nasdaq was down 6.54 percent, marking their biggest weekly percentage falls since January 2016.
The Dow was down 11.6 percent since its Jan. 26 high, and hit its lowest close since confirming a correction in February.
• The Cboe Volatility Index .VIX, the most widely followed barometer of expected near-term volatility in the S&P 500, finished up 1.53 points at 24.87, its highest close since Feb. 13.
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• Asian markets traded lower on Monday, following a global sell-off late last week amid fears that rising tensions between the United States and China could lead to a full-blown trade war.
• In Australia, the benchmark ASX 200 opened lower, trading down 0.57 percent at 5,787.4 in morning trade. The heavily weighted financial sector was down 0.81percent.
• Major banking stocks in the country fell — shares of ANZ declined 0.92 percent, Commonwealth Bank was down 0.69 percent and the National Australia Bank declined 0.86 percent. Westpac shares were down 0.35 percent.
• In Japan, the Nikkei 225 fell 1.02 percent in early morning trade. The Topix index was down 0.83 percent. Across the Korean Strait, the Kospi fell 0.41 percent.
Reference: Reuters, CNBC
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