News of 44.2 million job losses in the world’s largest economy also landed a dagger to the optimistic belief of some investors who had hoped global growth would recover sharply from the economic shock of the deadly virus.
Energy stocks are the worst affected so far, losing 5.6 per cent, but the banking sector suffered heavy falls also, down nearly 4 per cent. The Dow Jones index had nearly 7 per cent wiped off its value overnight and the Australian indices were always going to struggle as a result, punctuating the ASX’s 3 per cent plummet on Thursday.
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Aussie stocks drop sharply after 'short squeeze' cuts investor optimismShares have slipped early by more than 1.0 per cent on the Australian stock market but investors will be hoping for an eighth consecutive day of gains.
Source: 9NewsAUS - 🏆 10. / 72 Read more »
Aussie stocks drop sharply after 'short squeeze' cuts investor optimismShares have slipped early by more than 1.0 per cent on the Australian stock market but investors will be hoping for an eighth consecutive day of gains.
Source: 9NewsAUS - 🏆 10. / 72 Read more »