ASX to drop, Dow Jones falls 650 points on surging COVID-19 infections

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Australian shares are expected to fall sharply, after the Dow Jones suffered its worst day in seven weeks amid a record spike in COVID-19 cases.

Australian shares are expected to fall sharply, after the Dow Jones suffered its worst day since early-SeptemberThe Australian dollar was slightly weaker at 71.25 US cents.

Investor sentiment also tanked as a bitterly-divided US Congress remains deadlocked over a COVID stimulus package. The Dow Jones index closed 650 points lower at 27,685. It briefly fell by more than 900 points at its lowest point.

 

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Coronavirus LIVE updates: Victoria records seven new cases for Sunday as significant lockdown changes not expected for several days while NSW prepares for NRL grand final'Paralysis in decision-making': Former Health Minister Jenny Mikakos has lashed out at the Andrews Government for the delay in reopening Melbourne They have no faith in themselves being able to keep us safe. Change the team. It is anything but paralysis. On the contrary, showing restraint in the current situation is brave and proactive. The SaveVictoria folk are ultimately angry about waiting, and so are the new AngryKaren Melbourne is under five cases ... has Daniel Andrews lied?
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