The ASX has opened lower for the first time this week, down more than 14 points.
The Dow and the NASDAQ both slid overnight and bank stocks dipped as members of the US Senate Banking Committee called for tighter regulations following the Silicon Valley Bank debacle.
Energy, industrials and materials were the best-performing sectors in the US, while health, real estate and tech ended in the red.
Meanwhile, the Aussie dollar has gained back some ground against the greenback, buying 67 US cents and 54 British pence.
Commodities
Gold saw its first rise in three sessions, up one per cent. Iron ore was enjoying its second straight rise.
Natural gas remained under the $2 mark, falling slightly overnight.
News update
In banking news, the Australian Bureau of Statistics is expected to release its latest inflation figures later this morning. Investors will be waiting to see if the Reserve Bank will lift interest rates next week.
Meanwhile, ASIC is investigating whether ASX — the operator of the Australian stock exchange — has broken the law during the replacement of its transaction system.
The alleged breaches are regarding the company’s CHESS system, which is used to record transactions on the financial markets.
The move follows an external review, which identified a string of issues with the project. The ASX says it will cooperate fully with the investigation.