· The Dow Jones Industrial Average .DJI fell 180.43 points, or 0.68 percent, to 26,447.05, the S&P 500 .SPX lost 16.04 points, or 0.55 percent, to 2,885.57 and the Nasdaq Composite .IXIC dropped 91.06 points, or 1.16percent, to 7,788.45.
For the week, the S&P fell 0.98 percent, the Dow slipped 0.04 percent and the Nasdaq dropped 3.2 percent. It was the biggest weekly decline for the Nasdaq since March.
U.S. stocks dropped for a second straight day on Friday, weighed down by another rise in Treasury yields in the wake of a solid jobs report that capped off a week of robust data.
· The report pushed longer-dated U.S. Treasury yields higher, with the 10-year US10YT=RR note touching 3.248 percent. That piled more pressure on U.S. stocks, which are trading near record-high levels, raising concerns about valuations in the pricier names with the corporate earnings reporting season on tap.
After the data, interest rate futures traders were still largely expecting a Fed rate hike in December while the bond market’s gauges on investors’ inflation outlook rose.
· Australia's markets slipped further on Monday morning as the ASX 200 fell by 0.95 percent in the morning, with most sectors trending lower.
The heavily-weighted financial sector declined by 1.23 percent, with shares of Australia and New Zealand Banking Group (ANZ) falling by 2.24 percent and Commonwealth Bank of Australia lower by 0.76 percent. The movement in ANZ's stock came after it announced that its full year 2018 cash profit would be "impacted by additional charges for customer compensation, accelerated amortisation of software and other notable items."
· In South Korea, the Kospi was 0.2 percent higher in early trading action, while industry heavyweight Samsung Electronics saw gains of 1 percent.
· Japan's markets are closed for a public holiday.
Reference: Reuters, CNBC
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