Local shares are poised to drop at the open, reflecting a sudden surge in selling on Wall St. Oil has extended its rout.

Key numbers:

• SPI futures are down 91pts to 4846
• AUD at 69.52 US cents, 82.09 Japanese yen, 64.06 Euro cents and 48.18 British pence
• On Wall St, at about 3pm New York time, Dow -2%, S&P 500 -2.2%, Nasdaq -2.9%
• In Europe, Stoxx +0.3%, FTSE +0.5%, CAC +0.3%, DAX -0.3%
• In London, Rio +1.91%, BHP +0.28%
• Spot gold up 0.6% to $US1093.04 at 3.06pm New York time
• Brent crude down 2.2% to $US30.18 at 2.42pm New York time
• Iron ore fell 4.1 per cent to $US39.51 at its latest fixing

What’s on today:

Australia jobless rate for December.

Bank of England rate decision. Bank of Korea policy meeting. Indonesian rate decision. European Central Bank December meeting minutes.

Economy: Japan machinery orders; Germany publishes first report on 2015 economic growth and may provide fourth-quarter estimate; US import prices, US weekly jobless claims.

Earnings: JPMorgan Chase, Intel.

St Louis Fed boss James Bullard will speak. The Norwegian Petroleum Directorate publishes a statement on 2015 gas exports.

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