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March 09, 2020 15: 53:16
The Australian share market has actually lost more than $100 billion in today’s trade up until now, amid the financial fallout from the coronavirus and an oil cost war.
Bottom line:
- Analysts have actually stated this has been the worst trading day in Australia given that November 2008
- The Australian dollar briefly dipped to 63 US cents– its lowest point since the GFC
- Oil stocks have actually fared the worst, while financiers have turned to gold as a safe haven
At the same time, the Australian dollar briefly toppled to just above 63 United States cents– the lowest level given that the worldwide financial crisis– in what currency strategists have called a “flash crash”.
Overall, it has actually been the worst day of trade given that October 2008, when the GFC took hold, and the thrashing is hammering share portfolios and superan