December is off to its worst start since 2008 and the losses may continue when the market begins trading.
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Dow Jones futures were down 0.3 percent. The S&P 500 slipped 0.3 percent and the Nasdaq Composite was off 0.4 percent.
Ahead of a debate on Brexit, the European Court of Justice on Monday ruled that the UK can revoke Article 50 and halt Brexit without the permission of other member states.
London’s FTSE opened down 0.4 percent, Germany’s DAX slipped 0.6 percent and France’s CAC fell 0.3 percent.
The U.S. will hold fast to its 90-day deadline for the conclusion of a lasting trade agreement with China and would impose punishing tariffs on Chinese imports if none is reached.
That is according to U.S. Trade Representative Robert Lighthizer on CBS on Sunday.
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At the end of the 90-day period, which began Dec. 1, tariffs on $200 billion of Chinese goods would rise to 25% from the current 10%.
China shares ended lower on Monday as disappointing trade and inflation data for November added to concerns over slowing growth.
The Shanghai Composite was down 0.8 percent.
Japan’s Nikkei tumbled to a 6-week low, ending the day down 2.1 percent.
| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| I:DJI | DOW JONES AVERAGES | 24388.95 | -558.72 | -2.24% |
| SP500 | S&P 500 | 2633.08 | -62.87 | -2.33% |
| I:COMP | NASDAQ COMPOSITE INDEX | 6969.2521 | -219.01 | -3.05% |
Equity investors rocked by days of volatility are saying good riddance to the week on Friday in what was another stomach-churning session. The month of December is now off to its worst start since 2008, as tracked by our partners at Dow Jones Market Data Group.
The Dow Jones Industrial Average finished the final day of the week down 558 points or over 2 percent, curbing losses that were well over 600 points intraday. The S&P 500 sank 2 percent and the Nasdaq Composite 3 percent as large cap tech names including Apple and IBM weighed on the Dow.
For the week, all three of the broader U.S. averages lost 4 percent amid significant point declines.
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On the economic front, the November jobs report was softer than expected. The Labor Department said American employers created 155,000 jobs last month, less than the 200,000 Wall Street analysts expected. The November jobs report also found that the unemployment rate is still 3.7 — its lowest level in nearly half a century — and that wages edged slightly higher last month.
On Monday, automakers will release sales numbers for November.
Investors will also be watching reports on manufacturing and construction spending.
