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1.Market Observations, 8.Was Sticky

10 Oct 2018 (AFR) – Investors dump growth stocks as they wipe $42.5 billion off ASX

(10 October 2018, AFR, p13, by: Sarah Turner, William McInnes)

S&P/ASX 200 (XJO) index (Bloomberg)

S&P/ASX 200 (XJO) index (Bloomberg)

‘Investors wiped $42.5 billion off the Australian sharemarket to send it to a fresh four-month low in a torrid session that saw a number of highly valued growth stocks dumped. Fresh highs for US 10-year Treasury yields and ongoing tensions between the US and China over trade continued to overshadow markets. Concerns about the health of the global economy were also stirred after the International Monetary Fund nudged down its world economic outlook.’

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