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ASX ends highly volatile session 3.1pc higher

Updated

Key Points

  • Business confidence falls to its lowest level since 2013.
  • Trump says payroll tax cuts to be part of stimulus plan to be unveiled tomorrow.
  • Shares in Europe and the US collapsed on Monday.
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Sydney airport traffic drops 17pc in February

Luke Housego

Sydney Airport has reported a 16.8 per cent fall in international traffic in February on the same month last year, with passenger numbers from offshore falling by 250,000.

"Today’s announcement by Qantas demonstrates the significant and ongoing impact that the Coronavirus outbreak is having on Australia’s travel and tourism industry," Sydney Airport said in a statement.

"During February, travel across most nationality groups was impacted, with Chinese and South Korean nationals showing the greatest reduction, with 72.4 per cent and 34 per cent declines on the prior year."

The company also saw a fall in domestic numbers, with internal passenger numbers down 4.5 per cent to 2 million.

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    Original URL: https://www.afr.com/markets/equity-markets/asx-to-plummet-into-bear-market-20200310-p548g0