Australia's share market is trading at seven-week lows, with all but one local sector in the red after a bond sell-off articulated investor fears for global economic growth.
Wall Street's main indexes closed lower with the Nasdaq leading declines, after the benchmark 10-year Treasury yield climbed to its highest level in more than a year on mounting inflation concerns.
The Nasdaq and the benchmark S&P 500 have closed lower as investors took some profits in technology stocks while surging Treasury yields and high oil prices fuelled concerns that inflation and borrowing costs could stay elevated.
Australia's share market has fallen to a seven-week low, as the ongoing conflict in Iran bolsters oil prices and inflation fears darken the global economic outlook.
Australia's share market has fallen for four of the past five weeks, following a storm of profit warnings, earnings disappointments, interest rate hikes and fuel security woes.
US stocks have advanced, lifted by a rally in tech stocks as investors absorbed generally solid economic data and watched for developments from Beijing where US President Trump was engaged in a high-stakes meeting with his Chinese counterpart Xi Jinping.
Australia's share market has broken a four-session losing streak, albeit unconvincingly, after a rebound in banks and continued strength in major miners tipped the bourse into positive territory.
The S&P 500 and the Nasdaq have gained ground with a boost from artificial intelligence-related tech shares, which helped markets look past hotter-than-expected inflation data.
Lingering conflict in the Middle East could cause Australia's economy to contract and unemployment to spike to pre-pandemic levels, Treasury warns in the nation's fiscal blueprint.
Regional voters turning to One Nation believe the party is the only one "fighting" for them, coalition politicians say, as the conservative alliance continues to reel from losing a key seat in a by-election.
US stocks have closed slightly higher, with AI optimism fuelling upward momentum even as the earnings-driven fervour of the recent rally eased in the home stretch of reporting season.
The local share market has slipped after the US rejected Iran's latest peace proposal to end the Middle East war, and as a huge plunge by a prominent biotech name weighed on the bourse.
The S&P 500 and the Nasdaq notched record highs on Friday, boosted by gains in Nvidia, Sandisk and other AI-related stocks, while a stronger-than-expected jobs report pointed to labour market resilience.
About $43 billion has been wiped from Australia's share market, as oil prices surged after fighting between the US and Iran loomed over hopes of a peace deal.
