You’ve got to feel a little bit for Australian investors, who had a full weekend to digest the bad news coming out of Wall Street on Friday night, where weaker than expected labour market data sparked fears that the US economy could be headed for recession.

Aussie investors had seen the big falls on US markets. They had two days to worry about futures markets, to watch the doom-loop play out on social media, and read bearish columnists attempting to diagnose the problem.