ASX falls after Wall St tumbles on recession fears; Polynovo axes CEO

As much as $46bn wiped off ASX. Local shares drop to seven-month low after US recession talk triggers Wall Street sell-off. Brookfield begins Healthscope sale process. Polynovo shares drop after CEO sent packing.

Talks of a US recession have sent ASX futures much lower. Picture: Gaye Gerard

Welcome to the Trading Day blog for Tuesday, March 11. The ASX 200 is 0.9 per cent lower to 7887.80 points at 2pm AEDT after US 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.

Originally published as ASX falls after Wall St tumbles on recession fears; Polynovo axes CEO