The Australian sharemarket retreated minutes after opening, tracking a sell-off on Wall Street, though gains in miners and energy capped losses.

The S&P/ASX 200 Index futures lost 36.8 points, or 0.4 per cent to 8248.4 points at the opening bell on Monday, after slipping 0.1 per cent last week as the rally in the so-called Trump trades lost steam and traders pare back their Federal Reserve rate cut bets.

Of the 11 sectors, seven were flashing red with tech leading the charge.

The big four banks suffered with National Australia Bank tumbling 1.8 per cent on news that the securities watchdog was suing the lender for contravening the National Credit Code between 2018 and 2023.

Mining giants fell with BHP lifted 0.5 per cent and Rio Tinto rallied 1 per cent despite lower prices of iron ore. Fortescue added 0.5 per cent.

Energy companies rose with Whitehaven Coal up 1.4 per cent and New Hope 2.9 per cent higher.

More to come