Fears of a slowdown in the world’s biggest economy sparked renewed concerns for global growth and pushed commodity producers deeper into a bear market, underscoring what the Future Fund described as a “finely balanced” dynamic for shares.
The S&P/ASX 200 Index sank 1.9 per cent on Wednesday to 7950.5 points after Wall Street suffered its worst session since the August 5 crash. Iron ore futures traded in Singapore fell 0.2 per cent to $US93.40 a tonne, extending a swift decline from $US100 last week.
Jonathan Shapiro writes about banking and finance, specialising in hedge funds, corporate debt, private equity and investment banking. He is based in Sydney. Connect with Jonathan on Twitter. Email Jonathan at jonathan.shapiro@afr.com
