Australian stockmarket sheds more than $100 billion in biggest fall since the lockdown era. Here’s why
Australian stocks have closed down 3.7 per cent on Monday, wiping more than $100 billion from the stock market.
That’s the biggest fall since the pandemic lockdown era. Back then, financial markets panic spread like wildfire.
Now, global financial markets are nervous, to say the least.
It was unclear, for days, if not weeks, how severely economies would be hit by locking everything down. That uncertainty was too much for financial markets to bear, and stock markets across the world, including in Australia, “crashed” — down 20 per cent or more.
Now, investors are nervous about the health of the US economy following a couple of worse-than-expected economic releases, but there’s something else here at play that could undo the global…
