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E-commerce darlings slide as pandemic gloom lifts

Tom Richardson
Tom RichardsonJournalist

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A brutal sell-off in e-commerce and retail shares continued on Tuesday as investors questioned their lofty valuations ahead of Melbourne's staged release from physical lockdown restrictions.

Other risks and uncertainties around the US election outcome, the potential for the Reserve Bank to cut rates on Melbourne Cup Day, and ballooning COVID-19 case numbers in the US and Europe combined to drag the S&P/ASX 200 1.9 per cent lower on Tuesday afternoon.

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Tom Richardson writes and comments on markets including equities, debt, crypto, software, banking, payments, and regulation. He worked in asset management at Bank of New York Mellon and is a member of the CFA Society of the UK as a holder of the Investment Management Certificate. Connect with Tom on Twitter. Email Tom at tom.richardson@afr.com

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    Original URL: https://www.afr.com/markets/equity-markets/e-commerce-darlings-slump-as-covid-gloom-lifts-20201027-p568x1