Australian shares are set to open lower this morning after Wall Street slumped and US bond yields spiked overnight. Oil prices have surged above US$93 a barrel as US-Iran tensions escalate, while a massive $US40 trillion US national debt milestone is rattling investor confidence across the globe.

The Full Picture

Wall Street Selloff Sends ASX Into Red

• What happened: The S&P 500 fell 0.7 per cent, the Dow slid 1.2 per cent (612 points), and the Nasdaq dropped...