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March 12, 2020 18: 33:33
About $130 billion has actually been rubbed out the value of Australian shares after United States President Donald Trump revealed a temporary ban on visitors from Europe and the World Health Organisation stated the coronavirus a pandemic.
Bottom line:
- The increasing cost of coronavirus and the share market crash has banks and federal government looking at stimulus procedures
- Despite the UK Government revealing a stimulus strategy, the European markets fell deeper into the red
- The Australian dollar dipped again to around 64.58 US cents
The ASX 200 index fell almost 8 per cent at its low point– the worst one-day fall given that the collapse of US investment bank Lehman Brothers triggered losses in October 2008.
It clos