Business
Australian shares to fall as IMF warns of ‘uncertain’ recovery; Wall Street slips on ‘bubble’ concerns – ABC News
Australian shares are set to open lower as Wall Street struggled for direction on concerns it may be in “bubble” territory, while the IMF expects the global economy…
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.
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