Aussie stocks have been battered in the first few moments of the market opening as a growing Sydney COVID outbreak threatens the country's economic recovery.The biggest losses came from the travel sector as investors believe the outbreak will lead to greater border closures around the country.
Webjet fell by 4 per cent, Qantas and Flight Centre fell 3 per cent and Sydney Airport fell 2 per cent.Despite early losses this morning the market as a whole is still up 1.2 per cent this week and 3.1 per cent this month. Overnight the Aussie dollar was booming, cracking the 76 US cents mark for the first time in two and a half years.
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: