ASX trims half of a sharp intraday fall as US futures rebound after recession fears hit Wall Street
Australian stocks trimmed half of a sharp intraday fall as US futures rebounded after recession fears hit Wall Street. Brookfield begins Healthscope sale process. Brickworks takes a writedown on US operations. Polynovo shares drop after CEO sent packing.
That's all from the Trading Day blog for Tuesday, March 11. The ASX 200 closed down 0.9 per cent at 78lower to 7890.1 points, recovering from a 1.8 per cent intraday fall as US futures rebound after recession talk sent Wall Street tumbling.
On Wall Street, the S&P 500 closed 2.8 per cent lower, the technology-focused Nasdaq Composite Index shed 4 per cent and the Dow Jones Industrial Average dipped 2.1 per cent.
Cryptocurrency market leader bitcoin is trading below $US80,000.
The Aussie dollar is trading around US62.79c.
Add your comment to this story
ASX 200 trims falls as Trump, Asian markets await China response
The ASX 200 trimmed a big intraday fall as US stock index futures and US Treasuries reversed early losses. Asian stocks are mixed with the Nikkei 225 down 3 per cent and the Hang Seng index turning up 1.3 per cent. Xi Jinping will visit Vietnam, Malaysia and Cambodia next week for a response to Trump's 145 per cent tariff war.
ASX recovers $116bn in best day since June 2020
Technology and mining stocks lead surge on local bourse. US futures point down after Wall Street's historic session as Chinese leaders meet to respond to Trump's 125 per cent hit.
To join the conversation, please log in. Don't have an account? Register
Join the conversation, you are commenting as Logout