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Bloodbath on the share market as Australian shares plunge $67BILLION over rising interest rate fears


Bloodbath on the stock market as Australian shares plunge $67BILLION over rising interest rate fears

  • Australian share market’s benchmark S&P/ASX200 lost $67billion on Tuesday
  • The initial 2.5 per cent fall in first hour of trade followed Wall Street plunge 

The Australian share market lost $67billion in the opening hour of trade as interest rate rise fears caused an initial 2.5 per cent plunge.

The benchmark S&P/ASX200 bled after Wall Street continued to plummet.

The 2.5 per cent fall on the local share market was less severe than the 3.2 per cent drop on New York’s S&P 500.

But it still caused a $67billion plunge in the value of shares in the top 200 companies on Tuesday morning.

CommSec market analyst Steven Daghlian said share…



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Written by Bourbiza Mohamed

A technology enthusiast and a passionate writer in the field of information technology, cyber security, and blockchain

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