Business
ASX set for sharp losses on late Wall Street swoon – Sydney Morning Herald
Wall Street is on track for another day of losses, setting up the Australian sharemarket to fall this morning.
The broader market made solid gains early in the year as investors bet on an economic recovery fuelled by widespread vaccinations. Expectations were high for corporate earnings and the latest round of results has been surprisingly good. Wall Street is now digesting that growth and shifting to a more cautious view.
Some sort of pause was always inevitable, said Ross Mayfield, investment strategist at Baird. Eventually markets see a more challenging landscape ahead and general uncertainty.
Investors…
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