$100 billion has been wiped off the S&P/ASX 200 in a single session and there are fears the losses will continue. It’s the second consecutive sell-off, with losses were spread across all sectors, but technology, financial, energy and real estate shares were hardest hit. Bitcoin also plunged. Wilson Asset Management’s Lead investment mix Manager, Matthew … Read more
A series of consumer confidence and company surveys reveal Australians aren’t feeling very optimistic about the economy. The latest Westpac survey found the sentiment dip was centred around family finances, while there’s early evidence the stage three duty cuts have done little to decrease fears of another borrowing charge rate hike. Alongside that, job ads … Read more
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Australia’s economy barely grew in the first three months of 2024 and outside of the pandemic, it expanded at the slowest annual rate since the 1990s recession. GDP per capita fell for the fifth consecutive quarter but record population expansion is keeping Australia out of recession. The Treasurer Jim Chalmers blamed the weak expansion on … Read more
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