The selling that roiled global markets late last week looks set to continue on Monday. Triggered by weaker-than-expected news for the US labor market, the surge in risk-off sentiment took a bite out of the high-flying market for American shares. But even after last week’s hit, US equities are still leading the major asset classes by a wide margin. In the current climate, however, that premium suggests US shares are still vulnerable to a period of “normalizing” performance comparisons.

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* Does a surprising rise in unemployment signal a recession?
* Economist says Fed waited too long to cut interest rates
* Growth in China’s services activity strengthened in July
* Eurozone economy “stalls” in July via PMI survey data
* US 10-year yield fell sharply last week, settling at 3.79%–lowest since December:

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