General
Australian shares to fall as IMF warns of ‘uncertain’ recovery; Wall Street slips from record highs
Australian shares are set to open lower as US markets slipped from their record highs on concerns it may either be “overvalued” or in “bubble” territory.
Key points:
- The IMF is expecting the global economy to have shrunk (-3.5pc) in 2020
- It predicts an economic rebound of 5.5pc this year
- The US, Japan and other major economies are expected to pass more stimulus in coming months
ASX futures were down 22 points (-0.3pc) to 6,748, by 8:20am AEDT.
The Australian dollar had risen (+0.6pc) to 77.51 US cents.
Meanwhile, the International Monetary Fund (IMF) now expects the global economy could make a stronger recovery this year.
The global lender said it was due to a stronger-than-expected recovery in the second half of last year in several nations,…
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