Global markets are getting slammed

Global markets are getting slammed on Monday morning.

US stock futures are sharply lower at the start of the week and look set to extend Friday’s sell-off when trading opens.

Near 7:07 a.m. ET, Dow futures were down 194 points, S&P 500 futures were down 23 points, and Nasdaq futures were down 81 points.

Stocks fell on Friday after we got the January jobs report, which missed on the headline with 151,000 new jobs, but which also saw the unemployment rate fall to 4.9%, and some wage growth.

Major indexes across the world were also red, including Germany’s DAX which was down 2%, or about 244 points.

Crude oil was also lower, with West Texas Intermediate crude in New York hitting the $30 per barrel mark, down nearly 3%.

Stock markets in China remain closed for the new year celebrations.

There’s no major US economic data on deck today, with focus this week being on Federal Reserve chair Janet Yellen’s semi-annual two-day testimony on Capital Hill from Wednesday.

More to come …

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