Business
ASX set to drop as Wall Street dives on fresh economic fears; $A falls again – Sydney Morning Herald
Wall Street fell across the board as new data heightened fears of a choppy economic recovery from the pandemic-driven recession.
Wednesday’s plunge came six months to the day that US stocks on March 23 tumbled to their lowest point during the pandemic-induced selloff.
The economy is now levelling off at about 80 per cent of activity before the pandemic and won’t get back to normal until a vaccine is in place, said Jason Pride, chief investment officer of private wealth at Glenmede in Philadelphia.
“We’re at that phase where it’s harder to get that next bit of the recovery, that next bit of the reopening in place,” Pride…
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