The sell-off on US markets continued last night, with the Nasdaq suffering its steepest three-session drop since 2011.

There was a big decline in tech stocks on Friday, and that selling momentum spilled over into the broader market overnight.

Amid a lack of economic data, investors refocused their attention on the upcoming US second quarter earnings season.

Already some companies are offering downbeat guidance about their results, and this has been the likely catalyst for the recent heavy losses on Wall Street.

Among the commodities, gold settled lower but found some support from safe-haven flows.

Elsewhere oil weakened alongside equities, with added selling pressure coming from reports Libya is close to reopening two of its oil ports.

The US dollar was broadly weaker against other currencies, as traders hedged their bets ahead of the Fed meeting minutes for March, scheduled for release later this week.

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