Lack of progress toward a comprehensive solution to the eurozone crisis means another turbulent week is likely for world markets.
Stocks in the United States and Europe slipped last week, as the promise of new Greek and Italian governments failed to quell market contagion.
On Friday, the Dow Jones Index closed up 25 points, or 0.2%, to 11,796.
The Nasdaq Composite closed down 15 points, or 0.6%, to 2572.
European stocks also closed in the red. The FTSE-100 index in London closed down 1.1% at 5362 points.
The CAC-40 in Paris lost 0.4% to 2997 points and the DAX in Frankfurt shed 0.8% to close at 5800 points.
Across the Tasman, the Australian 200 Index closed on Friday down 81 points, 2%, at 4176. The NZX 50 closed on Friday down 30 points, 0.9%, to 3250.
Light trading volume is expected this week in the United States where the Thanksgiving holiday will be observed on Thursday.
At 8.15am on Monday, the New Zealand dollar was trading at 75.60 US cents, 75.78 Australian cents, 47.87 pence, 58.10 yen and 0.5598 euro. The Trade Weighted Index was at 66.91.
Brent crude oil was trading at $US108.66 cents per barrel and gold was trading at $US1725.50 per ounce.