ASX loses $160bn in two days as US recession fears prompt sell-off
by Jonathan Barrett Senior business reporter from World news | The Guardian on (#6PQXJ)
Australian share market suffers worst two-day decline since start of pandemic as it tumbles 3.7% on Monday
Australia's share market has suffered its worst day since the onset of the pandemic as fears of a US recession prompted investors to exit their positions, erasing more than $100bn in value from local stocks.
A sea of red overwhelmed the local market on Monday, with the benchmark S&P/ASX200 index down by 3.7% to 7,649 at the close.
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