Business
ASX set to dive as Wall Street’s tech plunge continues – Sydney Morning Herald
The selloff on Wall Street extended into a third day, setting up the Australian sharemarket for heavy losses this morning.
The Dow Jones fell 2.3 per cent, the S&P 500 lost 2.8 per cent and the Nasdaq dropped 4.1 per cent. At 6.22am AEST, futures are pointing to a fall of 97 points, or 1.6 per cent, for the ASX at the open. On Tuesday, the ASX gained 1.1 per cent.
Energy shares slumped 3.7 per cent as oil prices fell below $US40 a barrel.
Media reports of SoftBank’s option purchases also reminded investors that market makers might have billions of dollars’ worth of long positions as hedges against options trad…
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