International markets extended losses overnight, although the weakness was not as pronounced as in the previous session.
In Europe the FTSE shed 16 points (-0.3%) to settle at 5207, whilst the CAC (-0.8%) and DAX (-1.2%) also lost ground.
Stateside, the Dow Jones gave up 54 points (-0.5%) to settle at 11494, whilst the S&P 500 (-0.4%) and Nasdaq (-0.1%) were also weaker.
A downward revision of domestic economic growth weighed on investors, although increasing hopes of QE3 from the Fed provided some support.
The euro rose versus the yen as appetite for safety declined amid speculation progress in being made in managing Europe's sovereign-debt crisis.
Commodities were mixed overnight; copper was weaker, whilst crude rose for the first time in four days as sanctions against Iran and protests in Egypt raised concerns that supplies will be disrupted.
The black gold added 1.1% to settle at US$98.01 a barrel, whilst bullion also firmed, jumping 1.4% to settle at US$1702 an ounce.
Today's session will bring us data in the form of the CB leading index (10:00am, AEDT), and construction work done (11:30am, AEDT).
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Morning Market Analysis: Losses Extended is a post from: Australian Stock Report Market Pulse Blog