The decline on Tuesday follows a 4.2 per cent drop last week, the worst weekly tumble for the benchmark since April 2020, following the Reserve Bank’s decision to hike its cash rate by 50 basis points, more than the market had anticipated.
One investor managing more than $1 billion said investors had assumed “battle stations” and warned that the equity market had “further to fall,” as above-target inflation in developed markets including the US, Europe and Australia had prompted central banks to act quickly to tame rising consumer prices.
Blindly following the US market yet again. Buggered if I know why we have our own Stock Exchange and Investment Broker structure, when they all do stuff all analysis to determine true share value of Aussie listed companies. It’s an absolute disgrace consisting of overpaid puppets
Crypto being flogged too.
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