Australian share market slumps more than 2pc in early trade

The Australian share market has slumped 2.3 per cent at the open, following steep falls around the world overnight.Only five companies on the ASX 200 were rising in early tradeWall Street's Dow Jones index posted its worst session in two years overnight, falling by more than 3.5 per cent.

However, falls were broad-based, with only five companies out of the top 200 trading higher early in the session and blue chips also struggling. Retailers were also being sold off as investors worry about both consumer demand and the worsening disruption to supply chains from the coronavirus — JB Hi-Fi was off 3 per cent and Harvey Norman was down 2.6 per cent.

"But the markets have come alive with the sound of volatility and traders reaching out for portfolio hedges."

Business Business Latest News, Business Business Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Aussie dollar hits 11-year low as market drops $50 billionInvestors have been spooked by warnings that the coronavirus will restrict trade on Australian commodities like iron ore. I guess that will be good for our exports? Wow, that will stimulate economy as well as pathetically low interest rates... not Gold is up
Source: 9NewsAUS - 🏆 10. / 72 Read more »

Sea of red: Australian stocks plunge againAustralian stocks have plunged more than two per cent at the open after fears about a coronavirus pandemic sparked a major sell-off on global markets Not to worry, trumps tweets will save us.
Source: smh - 🏆 6. / 80 Read more »