Sky News Business Reporter Edward Boyd said stocks fell "because investors have lost confidence.
" Mr Boyd said the market was expecting US President Donald Trump to announce a multi-billion-dollar stimulus package which has not yet happened. "Investors have started to hit the sell button," he said. Mr Boyd said "Aussie markets are down around 1.6 per cent in early trade" and the RBA Governor was "tipping China will need to introduce their own stimulus to their economy".
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
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.
Oil price war hits global markets hard | Sky News AustraliaGlobal markets suffered heavy losses as the impact of the coronavirus hit share prices off the back of a crude oil price war.\n\nInvestors nervous about the economic impact of the COVID-19 outbreak continued an aggressive sell-off dumping shares as Saudi Arabia escalated an oil-price war with Russia by refusing to scale-back output despite falling demand.\n\nThere was a 15-minute trading halt on Wall Street on Monday as the Dow Jones plunged 7 per cent at the opening bell.\n\nIn Australia, the ASX is expected to plunge at this morning's open after Australian shares bled more than $140 billion on Monday.\n\nThe benchmark ASX200 closed down more than 7 per cent to a 14-month low.\n\nPrime Minister Scott Morrison will today warn the impact of coronavirus is 'potentially greater' than the Global Financial Crisis in his stimulus package speech.\n\nBell Direct Market Analyst Jessica Amir told Sky News investor confidence wouldn't be restored until a vaccine hit the market.\n\nImage: AP\n\n 10 March Donald J. Trump So last year 37,000 Americans died from the common Flu. It averages between 27,000 and 70,000 per year. Nothing is shut down, life & the economy go on. At this moment there are 546 confirmed cases of CoronaVirus, with 22 deaths. Think about that! Keep an eye on Caltex and Newcrest!...Australia first!..and the Finnish line was still the same!
Source: SkyNewsAust - 🏆 7. / 78 Read more »