Katie Stockton, chief technical strategist at BTIG, said in a Monday note to clients that "global equity markets are under pressure today following Friday's gap down in the U.S. stock market. The SPX is poised for downside follow-through this week because it is not yet oversold from a short-term perspective."
Fears that the U.S. central bank may raise rates this month sent overseas equity markets lower, with Japan's Nikkei 225 and China's Shanghai composite closing 1.73 percent lower and 1.85 percent lower, respectively. European stocks also fell, with the Stoxx 600 index falling about 1 percent.
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