Australian shares are expected to open lower on Monday after another big selloff on Wall Street on Friday.
The Australian share market ended the week at its lowest level in almost four years, after losing $A30 billion in value.
The S&P/ASX200 index lost 105 points on Friday, 2.64%, to end 3869.4 - its worst close since November 23, 2004.
The All Ordinaries dropped 107.7 points, or 2.73%, to 3831.6 - its weakest close since November 2, 2004.
At the close of day trading on the Sydney Futures Exchange, the December share price index contract was 156 points lower at 3877, on a volume of 37,913 contracts.
Market turnover was 1.18 billion, worth $A3.67 billion.
CommSec chief economist Craig James says the lead from Wall Street and European markets is negative.
However, he says there are some "bargains" around at present and the market could move into positive territory if investors decided to buy.
On Wall Street on Friday, the Dow Jones Industrial Average slumped 312.30 points, or 3.59% to 8,378.95.
The Nasdaq Composite Index fell 51.88 points or 3.23% to 1,552.03. Standard & Poor's 500 Index fell 31.34 points or 3.45% to 876.77.
London closed 5.0% in negative territory after having shed more than 9.0% earlier in the day.
The London FTSE 100 index finished down 5% at 3,883.36 points.
In Paris, the CAC 40 index fell 3.54% to 3,193.79.
In Frankfurt, the Dax lost 4.96% to finish at 4,519.70.
NZ market closed
The New Zealand market is closed on Monday for the Labour Day holiday.
The NZX 50 index lost 28 points on Friday to close at 2778 on light turnover of $48 million.
Telecom was up 5 cents at $2.31. Contact Energy was down 17c to $6.85.
Fletcher Building was down 20c to $5.80.
Fisher & Paykel Appliances was up 1c to $1.33 and Fisher & Paykel Healthcare was down 9c to $3.01.
Auckland International Airport Ltd remained unchanged at $1.79.
