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Australian share market expected to fall amid trade war fears, finance news Wall Street

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The Australian share market is expected to open sharply lower after a second day of significant falls on Wall Street. 9News

All 11 major S&P sector indexes fell on Wednesday, with energy and financials each down more than two per cent.

Greg Boutle, head of US equity and derivative strategy at BNP Paribas, said the the contraction had been worse than expected. "This data is indicating we are not immune to this trade dispute, that it's hurting us as well as China," he said. Many investors believe that falling below such moving averages means the indexes are likely to fall further.

The Cboe Volatility Index, or VIX, an options-based gauge of investor anxiety, rose 1.9 points to 20.47, its highest in about a month. General Motors slumped 4.0 per cent after its quarterly sales came in slightly short of US car shopping website Edmunds' forecast.

 

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