The Australian share market has opened firmly in the red, after rising coronavirus cases in the United States saw a sharp sell-off on Wall Street on Friday.Gold miners were one of the few bright spots on the Australian share marketBy 10:45am AEST, the benchmark ASX 200 index was down by 1.6 per cent to 5,808 points, while the All Ordinaries index had lost 97 points to 5,914.
The major banks fell sharply, including shares in ANZ , the Commonwealth Bank , NAB and Westpac , as well as Bank of Queensland and Macquarie Group . Energy was one of the worst performing sector in early trade, as oil prices declined — Brent crude had fallen 2.1 per cent to $US40.18 a barrel.Gold miners were among the few bright spots, with Perseus Mining the best performing stock among the top 200.The falls on the local share market follow heavy losses in the US on Friday, with the Dow Jones losing 2.8 per cent."Investors reassessed the prospects of a speedy recovery from the COVID-19 pandemic, especially in the US.
The dead cat stopped bouncing?
And the smart ones will buy shares up cheap tomorrow. It will go back up eventually
It's not just a health crisis we're in. And no, the Gov just handing out money doesn't solve the problem either
Having virtually sold-off the farm and seen many industries depart overseas or go-under, is it any wonder the AUS share market is in turmoil. Successive governments appear oblivious to the domestic damage being done.
I eat Australia's rice and natural cheese easily, so I eat them every day. I personally love foreign products, and I don't have the image of a deficit.😋