Business
ASX set to fall as Wall Street has worst day since October – Sydney Morning Herald
Stocks were down from the get-go as investors focused on the outlook for the economy and corporate profits amid a still-raging coronavirus pandemic.
The selling comes amid uncertainty over whether the Biden administration will deliver on its proposed $US1.9 trillion ($2.5 trillion) stimulus plan. Democrats slim majority in the Senate has raised doubts about how soon more aid might arrive and whether such a package will end up being scaled back by spending-wary lawmakers. Expectations for another economic financial boost from Uncle Sam helped keep stocks climbing since the US elections in November.
The reality is setting in that the package wont…
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