Australian share market suffers worst two-day decline since start of pandemic as it tumbles 3.7% on MondayGet our morning and afternoon news emails, free app or daily news podcastAustralia’s share market has suffered its worst day since the onset of the pandemic as fears of a US recession prompted investors to exit their positions, erasing more than $100bn in value from local stocks.A sea of red overwhelmed the local market on Monday, with the benchmark S&P/ASX200 index down by 3.7% to 7,649 at the close.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…
Source link : https://www.theguardian.com/business/article/2024/aug/05/asx-loses-160bn-in-two-days-as-us-recession-fears-prompt-sell-off
Author : Jonathan Barrett Senior business reporter
Publish date : 2024-08-05 07:27:42
Copyright for syndicated content belongs to the linked Source.
ASX loses $160bn in two days as US recession fears prompt sell-off
