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Australia heads for recession as stock market falls 7.33% in worst day since GFC

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Market loses around $140bn and economists forecast first slump since 1991, as two Sydney schools are closed and coronavirus cases grow

Australia is heading for a recession in the first half of this year, leading economists have forecast, as the continuing impact of the coronavirus outbreak saw the stock market endure its worst day since the global financial crisis.

 

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It's almost like GFCs are cyclical and weirdly coincides with conservative rule? What are the odds?

What happens next? Better or worse? Anyway,I hope this situation is getting better and better.

Will Trump buy Australia? 🤔

I suspect the world will fall into a recession before all of this is over.

Stock prices aren’t what makes a recession

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FTSE 100 plunges 8.5% on fears of global recession triggered by coronavirus – business liveRolling coverage of the latest economic and financial news, as stocks slump across the world amid the deepening coronavirus crisis Paniced into recession. Good job. perfevt reason y the free market is not compatable with human life whenever it contradicts human need it crashes 8.5%? ITEOTWAWKI
Source: The Guardian - 🏆 84. / 53 Read more »