Chanticleer

Why did the sharemarket run so hard in the first place?

There was a fragility about last week’s record high that made this sell-off inevitable. How long it lasts is the main game. It will be a tough week.

Aug 5, 2024 – 1.14pm

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Ask three different fund managers what’s causing Monday’s sell-off, and you get three slightly different answers. The problem is they can all be right.

Our first fund manager, a large cap Australian equities’ investor, said it was fears of a recession in the United States.

Anthony Macdonald is a Chanticleer columnist. He is a former Street Talk co-editor and has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.