Business
Why these market experts aren’t concerned about the ASX 200’s pullback
The S&P/ASX 200 Index (ASX: XJO) fell sharply today, down 2.0% in late afternoon trading.
The ASX and Asian share markets are following the lead of the United States and European markets, where all the major indexes lost ground yesterday (overnight Aussie time).
In the US, the S&P 500 Index (INDEXSP: .INX) fell 2.6%. Technology shares weren’t spared either, with the tech-heavy Nasdaq Composite (INDEXNASDAQ: .IXIC) also dropping 2.6%.
In Europe, Germany’s DAX PERFORMANCE-INDEX (DB: DAX) led the charge lower, closing down 1.8%.
Today’s retrace among leading Australian shares puts the ASX 200 back in the red for the calendar year, down 0.8% since the opening bell on 4 January.
With all the talk of frothy markets and bubbles…
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