The Australian share market has plunged 3.59 per cent, continuing panic selling that smashed global equities markets overnight.
The benchmark S&P/ASX200 index was 206.7 points lower, or 3.59 per cent, at 5,553.9 at 1015 AEDT on Tuesday.
The broader All Ordinaries index was down 208.8 points, or 3.59 per cent, to 5613.6 amid a sea of red.
US President Donald Trump has in the last hour announced details of a stimulus package to help business overcome the virus impact. This includes payroll tax relief and loans for small business.
Overnight, stocks on Wall Street plummeted so fast on what traders are now calling “Black Monday” they triggered the first automatic halt in trading in more than two decades.
The Australian stock market suffered its worst single day loss in nearly a dozen years on Monday and is et for another turbulent day.
The wider market shed about $155 billion in value as the benchmark S&P/ASX200 index plunged 7.33 per cent to a two-year low of 5,760.6.
The Aussie dollar was buying 65.97 US cents at 1015 AEDT on Tuesday, up from 65.46 US cents at the market close on Monday.
AAP
Be the first to comment