• The Dow Jones Industrial Average .DJI fell 296.24 points, or 1.19 percent, to 24,688.31, the S&P 500 .SPX lost 46.88 points, or 1.73 percent, to 2,658.69 the Nasdaq Composite .IXIC dropped151.12 points, or 2.07 percent, to 7,167.21.
The S&P 500 ended at its lowest level since early May on Friday and flirted with correction territory after technology and internet shares sold off further, capping another volatile week for U.S. stocks.
During the session, the benchmark S&P 500 fell more than 10 percent from its Sept. 20 record closing high, but pared losses to end above that level. A finish of 10 percent or more below its all-time closing high would confirm a correction.
The Nasdaq registered its biggest weekly drop since March 23 after confirming a correction earlier in the week.
The Dow and the S&P 500 both returned to negative territory for the year.
• While economic growth is mostly healthy, disappointing corporate results and forecasts this earnings season have shown how tariffs, rising wages and borrowing costs as well as jitters over geopolitical events are hurting companies.The Nasdaq fell 3.8 percent for the week, while the Dow was down 3 percent and the S&P 500 was down 4 percent on the week.
• Investors may see more volatility through the remainder of the U.S. earnings season and ahead of the Nov. 6 U.S. midterm congressional elections, he and other money managers said.
• Asian shares look set for a modest bounce on Monday, though sentiment remains fragile as bears are on the ascendancy after steep declines across world financial markets last week on heightened worries over corporate earnings and global growth.
E-Mini futures for the S&P 500 ESc1 and Dow minis 1YMc1 jumped 0.4 percent each in early Asian trade.
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• Asia markets were up Monday morning as major indexes in Australia, Japan and South Korea traded higher.
In Japan, the Nikkei 225 advanced by 1.26 percent in early trade while the Topix index rose 1.04 percent.
South Korea's Kospi added 0.61 percent as heavyweight Samsung Electronics added 0.37 percent while SK Hynix traded down 1.79 percent.
In Australia, the benchmark ASX 200 rose 0.76 percent, with most sectors trading up. The energy sector was up 0.62 percent, materials gained 0.94 percent and the heavily weighted financial subindex was up 0.42 percent.
Reference: Reuters, CNBC
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