Crude oil fell for a third day, reaching below $42 a barrel after U.S. stockpiles unexpectedly rose, to the highest seasonal level in two decades.
U.S stocks fell, and the S&P 500 Index fell by the most in over a week, as shares of energy producers retreated. Bank shares also fell as chances of a Federal Reserve rate hike this year reduced.
Asian equities also declined on crude oil prices. Japanese equity markets are shut on account of a national holiday.
The dollar fell to its lowest level since June erasing the gains it had made since last week's better-than-expected U.S jobs data.
The SGX Nifty is trading 0.1 percent lower at around the 8,580 mark, indicating a quiet start for Indian equities.
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