Tag: wall

  • ASX drops sharply after Wall St tumbles — as it happened | $37 billion wiped off Australia in b…

    ASX drops sharply after Wall St tumbles — as it happened | $37 billion wiped off Australia in b…

    Explore the latest developments concerning ASX drops sharply.

    ASX drops sharply after Wall St tumbles — as it happened

    The ASX has fallen steeply, led by technology stocks, in response to a sharp drop on Wall Street overnight.

    The benchmark's biggest stock, the CBA, fell 1.8 per cent, while the world's biggest miner, BHP dropped 1.3per cent. 

    TPG Telecom suffered the biggest fall of the session, plummeting 32 per cent by the close.

    All eyes are now Wall Street, which will likely set the tone for the local share market's open on Monday.

    And please watch out for markets analysis on the ABC News website Saturday morning — it is coming.

    A sincere thanks on behalf of the ABC's Business Reporting Team for spending time with us on the blog.

    ASX slumps 1.4pc as fading rate cut hopes smash tech, bitcoin

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    The reality that central banks may not be able to deliver aggressive interest rate cuts has unleashed a sell-off in the hottest pockets of financial markets, where concerns are intensifying that valuations are far too stretched.

    The S&P/ASX 200 Index sank 1.4 per cent on Friday to its lowest level since mid-July, in a broad sell-off which wiped $37 billion in market value. The benchmark posted a weekly decline of 1.5 per cent.

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  • Wall Street update: US stocks rebound as shutdown nears endgame | Europe stocks higher; Swiss sto…

    Wall Street update: US stocks rebound as shutdown nears endgame | Europe stocks higher; Swiss sto…

    Explore the latest developments concerning Wall Street update:.

    Europe stocks higher; Swiss stocks rise on optimism over possible reduction in U.S. tariffs

    LONDON — European stocks maintained their positive momentum on Tuesday as an end to the U.S. government shutdown is in sight.

    The pan-European Stoxx 600 index ended the session with a provisional gain of 1.3%, with all major bourses and sectors in positive territory.

    The U.K.'s FTSE index hit a new record high on Monday, up 1.2% for the session, while Germany's DAX gained 0.6%.

    Shares of Swiss companies traded higher as the country appeared to be close to clinching a deal with the U.S. to lower tariffs. Switzerland's luxury sector saw initial gains, with Richemont up 2%, while Swatch Group advanced 6% and Givaudan rose 1.9%. Overall, Switzerland's SMI was up almost 2% by the closing bell.

    Stocks rise as US shutdown nears end

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    Global shares have edged up driven by relief over the imminent end of the US government shutdown, though gains were tempered by nagging worries about valuations in the technology sector, while the dollar held firm.

    European shares rose in early trading on Tuesday, led predominantly by gains in London's FTSE 100, which hit record highs as the pound fell following British employment data that gave investors more confidence in the chances of a growth-boosting rate cut from the Bank of England next month.

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