The ASX 200 opened down 0.4 per cent in the first half hour of trade on Monday, despite US shares closing strongly on Friday.
The National Australia Bank announced it is expecting to take a $1.1 billion hit to its earnings, one month out from its profit results.
Also overnight the oil price fell to its lowest level since 2001, sitting at under $18 USD a barrel, causing the energy sector to fall two per cent.
