The ASX 200 is heading for a drop this morning after futures trading saw a 34 point drop on Friday in the wake of the volatility on Wall Street.
The ASX 200 fell 2.8% last week to be down 0.3% for January.
Eurozone shares fell 1.7% on Friday and was down more than 3% in the month as a brawl over COVID vaccines escalated, then eased.
Wall Street slid 2% on Friday for the second slump in three days as investors worried about the efficacy data of a new COVID vaccine from Johnson & Johnson and the continuing market battle between a fleet of small investors and hedge funds who short shares.
The Dow fell 620.74 points, or 2.03%, to end at 29,982.62, the S&P 500 shed 73.14 points, or 1.93%, to 3,714.24 and the Nasdaq dropped 266.46 points, or 2%, to 13,070.70.
All three main indexes suffered their biggest weekly fall since the end of October, as the Dow lost 3.28%, the S&P fell 3.31% and the Nasdaq declined 3.49%.
For the month, the Dow dipped 2.04%, the S&P shed 1.12% but the Nasdaq was up 1.42%.
Overall it was the worst week since October because of the slumps on Wednesday and Friday.
The continuing turmoil on Wall Street will overshadow markets today until investors see what happens.
Silver is under pressure from the Reddit day trading mob and if that gets out of hand, Comex and US commodities market regulators will impose tougher rules to stop speculation damaging confidence and stability.
