The Australian Financial Review's Matt Cranston says the news of billions of dollars wiped from the Australian share market is “very concerning, and a massive fall of more than five per cent”. Mr Cranston told Sky News “the government’s anticipated stimulus packaged is “going to be absolutely crucial”.
Treasurer Josh Frydenberg announced on Monday the “stimulus would be focused on both people and businesses and the timing of that is going to be interesting with a Budget in eight weeks,” he said. “There might be some different timing on which pieces of stimulus are introduced at which point, but it’s going to be crucial for both the supply and the demand side of the economy.
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