The Stoxx Europe 600 index dropped more than one per cent after closing Friday in a bull market, with the technology and real estate sectors leading the retreat. On Wall Street, contracts on the S&P 500 and the Nasdaq 100 fell by more than 0.8 per cent.
U.S.-listed Chinese stocks were on track to fall for a third session, after Washington's move to shoot down an alleged surveillance balloon from China spurred new tensions between the two countries. The U.S. sent divers to salvage what they believe is spy equipment from the Chinese balloon off the coast of South Carolina, with pressure mounting on President Joe to hit back at Beijing with new export control measures.
The employment numbers spurred yields on Treasuries to extend climbs for a second day. Traders will monitor this week's US$96 billion of Treasury note and bond auctions, which will be a test for the market, according to Daniel Mulholland, head of rates at Crews & Associates.
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