Share prices are expected to fall when trading begins on the Australian Securities Exchange on Monday in the wake of a sell-off in New York.
ASX futures trading indicated the main price barometer would begin 0.4% down at 10:00 am AEST (12:00 pm GMT Sunday).
At the time of writing , the benchmark S&P/ASX 200 September share price index (SPI) contract was trading 32 points below the previous settlement at 8,587 points.
Burrell Stockbroking wealth adviser Adam Dight said continuing uncertainty about the size and impact of American tariffs was affecting market sentiment.
“Clients are just holding their breath,” awaiting the Australian reporting season which begins this month, Dight said.
United States stocks slid on Friday (Saturday AEST) as new tariffs on dozens of trading partners, a fall in the Amazon price, and a weak jobs report prompted selling pressure.
The Dow Jones Industrial Average fell 1.23%, the S&P 500 index shed 1.6% and the Nasdaq Composite dived 2.2% after data showed nonfarm payrolls rose less than expected.
Amazon shares fell 8.3% after its quarterly results missed market forecasts for its Amazon Web Services cloud computing unit.
This raised expectations that the Federal Reserve will cut interest rates at its September meeting.
"There’s no way to pretty-up this report. Previous months were revised significantly lower where the labour market has been on stall-speed," Annex Wealth Management Chief Economist Brian Jacobsen was quoted by Reuters as saying.
The Australian market had closed lower on Friday with the S&P/ASX 200 index losing 0.9% to 8,662.0.
On fixed interest markets, Australian Government bond yields fell with 10-year rates down 0.59% to 4.198% and two-year rates 1.33% lower at 3.257%.
