FTSE 100 Live: Stocks in Asia plunge as oil spikes on Iran and Israel's strike exchange

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Aftyer the sharp selloff in stocks at the end of last week saw the Nasdaq endure largest daily drop in a year, and an Iran-Israel ceasefire potentially in ruins, many investors will be asking if the stock market sell-off will continue this week, says Kathleen Brooks at XTB.

The Nasdaq lost nearly 5% and the S&P 500 plunged 2.6% on Friday, with the US benchmark losing 2% over the week, bringing an abrupt end to its nine-week winning streak.

"The selloff came after US markets made record highs earlier in the week, and was triggered by jitters about AI stock valuations, and a rapid repricing of interest rate expectations for the Federal Reserve, after May’s blowout jobs report," says Brooks, after new payroll numbers rose by 172,000, far exceeding the 85,000 expected.