The situation in the Wall Street market is again focused on the FOMC meeting of the Federal Reserve (Fed) which further pressures the decline in equities.
Investors are understood to be preparing for the implementation of an aggressive interest rate hike, an increase of 75 basis points for 4 consecutive meetings by the Fed, in determining the prospects for economic growth in the United States (US).
As a result, the dollar continued its surge with Treasury yields still hovering at high levels.
Although equity markets retreated from last Friday's surprise rally, the major indexes posted their best monthly readings in October with the Dow Jones notching its biggest percentage gain since 1976.
Looking across the board, the Dow Jones Industrials fell 0.39% to 32,732.95 while the S&P 500 lost 0.75% to 3,871.98 and the Nasdaq Composite shed 1.03% to 10,988.15.
According to Ameriprise Financial's chief market strategist, Anthony Saglimbene, the bond market situation is seen as continuing to doubt efforts to slow down interest rate hikes by the Fed.
Europe's STOXX 600 index rose 0.35% while MSCI's gauge of global shares fell 0.44%.
This morning in Asia, Japan's Nikkei 225 gained 0.15%, Topix rose 0.23% and South Korea's Kospi rose 0.28%.
Australia's S&P/ASX 200 index started weak ahead of the implementation of an interest rate hike by the Australian Central Bank (RBA).
In the meantime, investors are also predicting another 75 basis point hike by the Bank of England (BOE) this week while inflation data in the European zone that remains high and a decline in Chinese manufacturing activity tarnish sentiment.
The currency summary showed the dollar index up 0.8% against the Yen at ¥148.62, the Euro down 0.8% against the greenback at $0.9887.
