Investing.com - Australian shares are set for a decline of over 1% at the start of trading on Friday, following a reversal of early gains in New York that led to extended losses across all three major benchmarks.
The Dow Jones Industrial Average experienced a drop of 533 points or 1.3%, while the tech-heavy NASDAQ Composite fell by 0.7%.
As of 9 am AEST, ASX 200 Futures were down 1.2%.
This downturn comes on the back of falling prices for iron ore and copper overnight. The Volatility Index (VIX), often referred to as the "fear gauge" of the market, saw a 10% increase, nearing a three-month high. Meanwhile, the NYSE Fang + Index, which tracks the performance of major tech companies, slipped 0.4%.
Investors will be closely monitoring Beach Energy Ltd (ASX:BPT) and Whitehaven Coal Ltd (ASX:WHC), ahead of their respective quarterly operational updates.
On the bond markets, Australia 10-year and 2-year rates were at 4.286% and 4.156%, respectively.