Global stocks mostly stabilized Monday though investors remained on edge after the biggest two-day slide for shares since June. The dollar edged higher and crude oil extended its recent slide.

Shares were little changed in Japan and China, and climbed in South Korea and Australia. Stocks fluctuated in Hong Kong, where protests again flared up on Sunday. U.S. futures pared earlier losses, while European contracts pointed to solid gains. U.S. markets are shut Monday for a holiday after the worst week for the Nasdaq since March. Treasury futures were flat after a slide in bonds on Friday, a move which Australian debt tracked on Monday.

Meanwhile, shares in SoftBank Group Corp. slumped after reports it had made massive bets on options trades linked to U.S. tech stocks. The pound ticked lower going into another round of Brexit negotiations.

“Risk assets remain fragile following Thursday’s tech-led rout and volatility spike,” said Ben Emons, managing director for global macro strategy at Medley Global Advisors. “With stimulus having been key for supporting equities and such lofty valuations, its renewal will be crucial not only for the recovery, but as a driver for equities as job risks mount.”

Traders are on tenterhooks as the week ramps up and they continue to chart the path for a global economy dealing with a pandemic. Federal Reserve Chairman Jerome Powell responded positively to Friday’s U.S. employment data, but reiterated his view that the economic recovery has a long road ahead. One big event later this week is the European Central Bank’s policy meeting.

Elsewhere, crude oil was back down near $39 a barrel and gold was steady.

Here are some key events coming up:

  • The next Brexit negotiating round begins with face-to-face discussions between the U.K. and the EU in London.
  • The ECB will probably hold rates on Thursday but indicate that downside risks have intensified, suggesting further easing is possible before year-end.
  • U.S. CPI data is due Friday, with consumer prices expected to rise in August for a third straight month.
These are the main moves in markets:

Stocks

  • S&P 500 futures slipped 0.3% as of 11:14 a.m. in Tokyo. The index fell 0.8% on Friday.
  • Japan’s Topix index dipped 0.1%.
  • Hong Kong’s Hang Seng rose 0.2%.
  • Australia’s S&P/ASX 200 Index rose 0.2%.
  • South Korea’s Kospi index added 0.4%.
  • Euro Stoxx 50 futures climbed 1%.
Currencies

  • The yen was flat at 106.25 per dollar.
  • The Bloomberg Dollar Spot Index rose 0.1%.
  • The euro held at $1.1834.
  • The offshore yuan was flat at 6.8338 per dollar.
  • The pound slipped 0.2% to $1.3252.
Bonds

  • The yield on 10-year Treasuries climbed eight basis points to 0.72% on Friday. Futures were little changed, with the cash market shut Monday for Labor Day.
  • Australia’s 10-year bond yield climbed six basis points to 0.95%.
Commodities

  • West Texas Intermediate crude declined 1.3% to $39.27 a barrel.
  • Gold was steady at $1,937.40 an ounce.