Apple and Amazon stocks drop after Bloomberg reports that both tech giants have had their systems infiltrated by Chinese spies.
Will history look back on 2017 as the year the world finally overcame the great recession of 2008 thanks to an unlikely saviour, US President Donald Trump?
The sudden sell-off on Chinese equity and debt markets shows investors are starting to fret about debt as authorities move to tighten credit growth.
The bad news for commodity exporters has been compounded with another credit downgrade for China over fears of its debt levels.
For the previous three decades, the year ending in "seven" has been a disaster for share investors. Will 2017 make it four decades of the "seven-year" curse? asks fund manager Erik Knutzen.
The Australian share market loses around 1 per cent over the first half of the trading day, with most sectors sitting in the red.
The Australian share market begins the week with $10 billion in trading losses, and most sectors in negative territory.
A defensive mood takes hold on markets, with oil and iron ore suffering 3 per cent falls, while US equities, the US dollar and bond yields also slide.
The Australian share market is likely to open flat, following weak leads from Wall Street and Europe, and the odds of a June Fed interest rate hike are rising.