Local stocks fell to a seven-week low as the market drop extended to 2.2 percent and benchmark ASX 200 was trading 137 points lower.
Experts said the situation was not hopeless and drops could provide good buying opportunities in the right businesses. There are expectations the government will intervene and cut rates in March or April. Image: AP
It’s actually fitting considering central banks were in such denial about the melt up they were causing.
Touche and they are becoming the tool of their own undoing as media shares and profits are sliding fastest as companies stop advertising with them
The media have succeeded in their fear mongering.
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Reports of coronavirus vaccine leads to 'significant correction' to ASX plunge | Sky News AustraliaBusiness editor Ticky Fullerton says “the market is moving all the time and it has actually come back” following a significant ASX drop due to coronavirus fears. \n\nThe ASX dropped 4.33 per cent amid concerns the widening spread of the coronavirus would have a large impact on global economies however there was “quite a significant correction to that big jump” on Tuesday. \n\nMs Fullerton told Sky News “extraordinarily the markets here have reacted” after a “report” US drug company Moderna “shipped the first batch of rapidly developed coronavirus vaccine to US government researchers”.\n\nShe said there was an “overwhelming sense” in the market that the impact of the coronavirus was “really going to hurt”. \n\n“There is this genuine fear about the virus but extraordinary developments with Moderna,' she said. \n\nImage: AP
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Coronavirus hits global markets and wipes $50bn off ASX as disease spreadsCoronavirus has inflicted its first big hit on Australian markets and the government has not ruled out further travel restrictions. Now is not the time to ease the travel ban. Such is bound to occur on global markets
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Virus fears weaken ASX, investors flock to gold | Sky News AustraliaAustralian shares have sunk to a two week low weighed down by fears the spreading coronavirus outbreak will dampen the global economy.\n\nThe ASX 200 fell 2.3 per cent to 6,969.70 on Monday afternoon with energy, industrial and finance leading the losses.\n\nGold has surged 1.2 per cent as nervous investors flock to the popular safe haven asset.\n\nImage: AP\n
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Global stock market rout continues, ASX set to sink for third-straight sessionConcerns about the spread of coronavirus and the impact on global economic growth see stocks tumble. The Australian share market eyes a steep fall at the open. ...meanwhile Bitcoin is up 40% since January and Ethereum up 100%. ‘Digital gold’ (as a store of value) appears to be the go-to in tumultuous times?
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Live: ASX plunges again as Dow loses nearly 2,000 points in two daysThe Australian share market is heading for a third straight day of heavy losses as investors begin to panic about the escalating coronavirus crisis. Markets very slow to wake up - 'China travel ban heightens threats to Australia's trade, tourism and education sectors' globalvoices auspol COVID19 Black swan events are becoming more frequent - even more predictable. Any chance the 1%ers who lost in GFC have been creating own “crises” since? Reason for such weirdo’s being heads of State? Why 24/7 news froths panic and forgets as quickly? And guess who pays?
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ASX set to plunge as virus panic grips global marketsThe Australian sharemarket is set to dive again this morning as Wall Street and European markets tumbled with investors fleeing for safety. I wonder who the bag holders are? Well done central banks for promoting a ‘risk free’ environment. People are idiots.
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