ASX tumbles as US recession fears spark global sell-off

(Image: Getty)

Mon, 05 Aug 2024

By Jacob ShteymanMounting fears of a US recession have led to a second day of heavy selling on the Australian share market, which is on track for its biggest two-day fall since the start of the covid-19 pandemic.At noon AEST on Monday, the benchmark S&P/ASX200 index was down 229.4 points, or 2.89%, to a six-week low of 7,713.8.That put it on track for a 5% loss over the past two days of trading after finishing 2.11% lower on Friday.The broader All Ordinaries had dropped 240.4 points, or 2.94%, to 7,930.Not since March 2020, when markets wer...

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