Australia

Australian shares are set to open lower, after U.S. stocks fell amid the CrowdStrike disruption.

ASX futures were down 0.84% or 84 points as of 8:00am on Monday, suggesting a lower open.

U.S. stocks declined Friday after a global technology outage shut down airports and disrupted businesses around the world.

The tech-heavy Nasdaq Composite fell 0.8%, the S&P 500 dropped 0.7%, and the Dow Jones Industrial Average shed 377.49 points, or 0.9%.

In commodity markets, Brent crude oil was down 2.9% to US$82.63 a barrel, while gold was down 1.8% at US$2,400.83.

The Australian dollar was at 66.84 US cents.

Asia

Chinese shares ended higher, led by semiconductor stocks. The benchmark Shanghai Composite Index rose 0.2% to 2,982.31, the Shenzhen Composite Index was 0.3% higher and the ChiNext Price Index gained 0.45%. Investors are digesting policy signals from the Third Plenum and await more details from the Politburo meeting at end-July. Among major stocks, SMIC was 5.0% higher and StarPower Semiconductor added 8.5%. Decliners included Poly Developments & Holdings, which dropped 3.1%, and Cnooc, which was 3.9% lower.

Hong Kong shares ended lower, with the benchmark Hang Seng Index declining 2.0% to 17,417.68, the Hang Seng Tech index falling 2.1%. China's Third Plenum communique offered little additional insights into how it will further stabilize the economy in the near-term with investors looking for more details ahead of the key politburo meeting in end-July, UOB analysts say in a commentary. Property stocks led the declines with Longfor Group 6.0% lower and China Resources Land down 5.8%. Gainers included BYD, which added 0.6% and China Unicom, which closed 0.4% higher.

Japanese stocks ended lower, dragged by falls in pharmaceutical and machinery stocks, as uncertainty continues over the Bank of Japan's potential rate increases. Astellas Pharma shedded 3.2% and Mitsubishi Heavy Industries dropped 1.8%. The Nikkei Stock Average fell 0.2% to 40,063.79. Investors are focusing on economic data and their policy implications ahead of the earnings season set to begin next week. The 10-year Japanese government bond yield rose half a basis point to 1.040%.

Indian shares ended lower, tracking Wall Street losses overnight. Investor sentiment was also likely weighed by the global IT outage. Back home, investors are digesting a slew of earnings, including from UltraTech Cement and Wipro. Reliance Industries is due to report 1Q results later in the day. Steel and auto stocks led the losses. Tata Steel dropped 5.2% and JSW Steel was 4.4% lower. Tata Motors shed 3.4% and Mahindra & Mahindra lost 2.5%. India's benchmark Sensex fell 0.9% to 80,604.65.

Europe

Stocks in the U.K. slipped Friday, as the FTSE 100 Index fell 0.6% to 8,155.72.

Among large companies, Burberry Group PLC posted the largest decline, dropping 7.2%, followed by shares of Spirax Group PLC, which dropped 5.7%. Shares of Ashmore Group PLC fell 4.3%.

Bridgepoint Group PLC was the biggest gainer during the session, surging 6.1%, and Marks & Spencer Group PLC surged 3.0%. Rolls-Royce Holdings PLC rounded out the top three movers on Friday, as shares gained 2.6%.

In other parts of Europe markets closed lower, with the STOXX Europe 600 Index down 0.8% to 510.03, Germany's DAX slipped 1.0% to 18,171.93 and France's CAC 40 fell 0.7% to 7,534.52.

North America

U.S. stocks declined Friday after a global technology outage shut down airports and disrupted businesses around the world.

The tech-heavy Nasdaq Composite fell 0.8%, extending its weekly decline to 3.6%. The S&P 500 dropped 0.7%. The Dow Jones Industrial Average shed 377.49 points, or 0.9%. The blue-chip benchmark is the only of the three major indexes that eked out a weekly gain.

CrowdStrike, a provider of malware and virus protection to a large array of companies, filed an update that caused outages for millions of users of Microsoft Windows devices worldwide. The outage knocked out operations for banks, media companies and emergency services and forced airlines to ground flights.

CrowdStrike's chief executive later said a fix had been deployed, but shares of the cybersecurity-software company tumbled 11%. The stock was the worst performer in the S&P Friday. Microsoft fell 0.7%.

The news also sent CrowdStrike rivals SentinelOne and Palo Alto Networks higher, with the stocks up 7.9% and 2.2%, respectively.

Despite the cyber outage, trading functioned normally across U.S. exchanges. Some financial companies, such as TD Bank and the London Stock Exchange, reported earlier issues. Visa said its systems were working normally but it was aware of reported difficulties with payments.

The outage marked a dramatic final day to a volatile trading week. Investors have been rotating out of megacap tech stocks and into areas of the market that could benefit from potential rate cuts, such as shares of small companies and more economically sensitive sectors. The small-cap Russell 2000 index is up 1.7% for the week, outperforming the major indexes.

Callie Cox, chief market strategist at Ritholtz Wealth Management, said the "everything else but tech rally" has room to run. As price pressures moderate and the U.S. economy remains strong, the Federal Reserve now has ample reasons to cut interest rates, she said.

"If rate cuts are still in the near future, the inflation data keeps cooling and the job market stays strong, I wouldn't be surprised to see this everything else rally run further," she said.

Still, some investors are bracing for heightened market volatility in the days ahead, citing the uncertainty around November's presidential election and the Fed's monetary policy.

Robert Schein, chief investment officer at Blanke Schein Wealth Management, said he has positioned his clients' portfolios with a large percentage of cash and Treasurys in anticipation of a choppier market in the second half of the year.

Benchmark 10-year Treasury yields ticked higher to 4.238%, from 4.188% Thursday.

Bitcoin, the largest cryptocurrency, jumped nearly 6% to $67,235.34.

In corporate news, Travelers dropped 7.8% after the insurer reported weaker-than-expected revenue. American Express fell 2.7% after the credit-card company's revenue fell short of analyst estimates. Starbucks jumped 6.9% after The Wall Street Journal reported that activist investor Elliott Investment Management has built a sizable stake in the coffee company.