Australia hit by $50b bomb in global panic
The global economy has been hit hard by a huge call in the US and Australia has been firmly in the firing line.
Markets
ASX plummets after US reserve’s pivot
The ASX cratered after a major decision on a US rate cut, with all 11 sectors trading in the red.
ASX suffers $50bn wipeout on worst day in months
The ASX 200 suffered its worst day in three months, as investors dumped tech, bank and mining stocks. The Australian dollar also hit a two-year low after big falls on Wall Street following the Federal Reserve’s weak rates outlook.
One thing making Aussies $1.5 trillion richer
Australia’s collective household wealth has soared over the last 12 months driven by one key thing.
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ASX falls to three week low
A sharp sell-off in information technology and energy stocks dragged the Australian markets down during Wednesday’s trading.
ASX 200 ends at three-week low; Nippon Life’s big Aussie merger
ASX 200 hits three-week low before US CPI data. Resolution-MLC merger in Nippon’s $US8.7bn buyout plan. Cement Australia buys BGC arm. ASIC sues Rex directors. Bets up on RBA rate cut in February. 2024’s biggest float DigiCo’s ‘overpriced’.
Aussie shares slump on bank, tech rout
A sharp sell-off in banking and tech stocks pushed the Australian sharemarket into the red on Tuesday, even as the heavyweight mining sector soared.
ASX trims losses after dovish pivot by RBA
Michele Bullock rejects commentary the RBA has misread the weakness in the economy and should have already moved to cut interest rates. ASX fell on tech, banks and property. But miners up on China stimulus hopes. 480 Mosaic jobs to go; Katies to shutter. Business confidence falls. Perpetual hit on ATO ruling on KKR deal.
91 per cent chance of this interest rate call
The RBA board will meet on Tuesday and announce the final cash rate decision for 2024 later in the day.
Retail gives ASX a bump up
The gift-giving season has shunted the ASX to a marginal gain on Monday as oil uncertainty buried many of the big players.
ASX 200 ends flat; CBA, Goodman up; ANZ, Platinum among big decliners
Ex-HSBC veteran Nuno Matos will be next ANZ CEO. Platinum crashes, Regal down after takeover talks end. CBA, Goodman jump. Star hits record low. Woolworths flags $140m hit from now-ended strikes. Sonic buying German lab group for $699m. GQG rises after canning buyback.
91 per cent chance of this interest rate call
Mortgage holders and business owners should not hold their breath for any interest rate relief on Tuesday.
Chart reveals why Australia is screwed
Australians are getting poorer and a leading economist has produced a simple chart that shows why.
Original URL: https://www.themercury.com.au/business/markets/page/3