European stocks look set to open lower on Monday to extend steep losses from the previous session as investors fret about an impending U.S. recession and the risk of Britain leaving the European Union without a deal.
Asian markets fell broadly, with benchmark indexes in Australia, China, Hong Kong, Japan and South Korea declining 1-3 percent as soft data from Japan added to global growth worries.
Ahead of another round of talks this week, a top Chinese official said on Sunday that China would work to boost imports and achieve a more even balance of trade with the United States.
On the Brexit front, U.K. lawmakers will seek to use a vote on the government's next steps on Brexit today.
The dollar slipped broadly, as growth worries offset news that the Muller report did not find sufficient evidence against President Donald Trump.
The Turkish lira firmed up slightly after having fallen over 4 percent on Friday. Gold firmed up while oil prices traded lower on concerns of a sharp economic slowdown.
U.S. stocks fell sharply on Friday as a raft of weak manufacturing data from the U.S. and Europe fueled worries about slowing growth and caution set in ahead of another round of high-level talks between the U.S. and China.
The Dow slumped 1.8 percent, the tech-heavy Nasdaq Composite plummeted 2.5 percent and the S&P 500 plunged 1.9 percent, with financials taking the biggest hit as the spread between three-month Treasury bills and 10-year note yields inverted for the first time since 2007.
European markets also succumbed to heavy selling pressure on Friday amid worries about growth, Brexit-related uncertainty and conflicting reports about progress in U.S.-China trade negotiations.
The pan European Stoxx 600 declined 1.2 percent. The German DAX lost 1.6 percent, while France's CAC 40 index and the U.K.'s FTSE 100 both dropped by 2 percent.
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