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ASX set for sharp fall as nervy investors send Wall Street tumbling – Sydney Morning Herald
The Australian sharemarket could drop under 6000 this morning with a dour Wall Street session setting up the ASX for sharp losses at the open.
“There has been a real disparity between growth and value and the narrowing has begun,” said Stephen Massocca, Senior Vice President at Wedbush Securities in San Francisco. “There was also a significant delta between large cap and small cap and we’re seeing that narrow as well.”
The Russell 2000 and the S&P Smallcap 600, both small cap indexes, outperformed the broader market.
US jobless claims unexpectedly ticked higher to 1.416 million last week, the Labor Department said.
The number ex…
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