Business
ASX sheds 2.2pc as tech, energy shares retreat – The Australian Financial Review
The Australian sharemarket tumbled to its lowest level since June on Wednesday, as shattered investor confidence in tech and growth stocks fed through the market.
“A market fuelled by central bank largesse, economic surprises and record earnings beats in the last few months was never going to maintain its heady pace forever. Market tremors are a normal, if uneasy, part of investing and not all shocks are a warning of an impending collapse in risk sentiment.”
Adding to investor unease was the news that AstraZeneca had put its COVID-19 vaccine trial on hold while it investigated a potential adverse reaction in one of the study’s participants.
The major ba…
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