The Australian stock exchange looks headed for another day in the red after Wall Street fell sharply following a rise in the number of coronavirus cases in the world's largest economy. The SPI 200 futures contract was down 150 points or 2.3 per cent, at 6257 at 7.30am on Friday.

US equities slumped overnight, with the Dow at one point down by more than 1,000 points, as coronavirus fears intensified after the number of cases confirmed in the US rose to 164 and California declared a state of emergency.