Japan stocks down 2%, oil slides more than 1% after Wall Street sell-off

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SINGAPORE — Shares in Asia-Pacific fell on Monday following a sell-off on Wall Street on Friday.

Japan’s Nikkei 225’s dropped 2.08% in early trade on Monday, while the Topix declined 1.79%.

In South Korea, the Kospi slid 1.25% and the Kosdaq was down 1.69%.

Australia and New Zealand markets are closed on Monday for a holiday.

U.S. stock futures were down slightly after a sell-off Friday, when the Dow Jones Industrial average plunged more than 900 points. The S&P 500 closed down 2.8% at 4,271.78, for its worst day since March. The Nasdaq Composite slipped 2.6% to 12,839.29.

On the economic data front, Singapore is set to report consumer price inflation.

Chinese telecommunications company ZTE and South Korea’s Hyundai Motor will report earnings on Monday.

Oil and currencies

U.S. crude futures were down 1.5% early on Monday to trade at $100.54 per barrel. International benchmark Brent crude futures down 1.52% to $105.03 per barrel.

The U.S. dollar index, which tracks the greenback against a basket of its peers, was at 101.120.

The Japanese yen weakened and was last trading at 128.66 per dollar. It crossed the 129 level last week before strengthening slightly. The Australian dollar was at $0.7225, down slightly from last week.

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