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Donald Trump's latest Twitter storm on the US-China trade war is expected to see the Australian stock market start to fall this week.
The US president fanned the trade flames by launching a series of incendiary tweets over the weekend, raising Beijing's tariffs and ordering US companies to leave China.
As a result, Wall Street suffered heavy losses as the Dow Jones ended down 2.4%.
The Nasdaq technology index, which was down 3%, saw an even larger decline.
The benefits were largely limited to the two world superpowers, with the Canadian and European markets not having been so severely affected.
The Australian market is expected to start the week down 86 points, or 1.3%.
CommSec Chief Economist Craig James said that trade between the United States and China created uncertainty in other parts of the world.
"It's about the trade war between the United States and China and Donald Trump and his tweets about the situation," he told AAP.
"It all depends on what it means for global growth when the two largest countries in the world trade their tariffs.
"This creates uncertainty about new investments, new jobs, and that's the problem that arises."
There will be some bright sparks on the Australian market, with a rise in gold price of $ 29.10 ounce, or 1.9%.
The price of iron ore also increased by $ 3.95, or 4.6%. The stocks of BHP, Rio Tinto and Fortescue should benefit.
"We should not suffer as big a fall as the US markets," said James.
"It's easy to say, but we just have to look at what the US futures market is saying on Monday."
There are still about 40 ASX 200 companies to declare their earnings this season.
James said the season was reasonable considering the US-China trade war, the Brexit debacle, the federal election and the weak housing market.
"It could have been a lot worse."
US central bankers met in Wyoming over the weekend and new economic data is expected in China this Friday.
Mr. James also oversees the French seaside resort of Biarritz, where seven of the world's most powerful leaders have arrived for the G7 summit.
"We will seek the comments of key leaders on the discussions they had with Donald Trump to determine whether any progress has been made to bring him back to him and the Chinese leader so that they withdrew from this." unequivocal tariff battle. "
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