Business
Australian shares to fall; Dow Jones drops 630 points on fears of overvalued market – ABC News
Australian shares are set to open lower, following heavy losses across foreign markets as investors fretted about overvalued stocks and the economic impact of the…
Australian shares are set to begin their day sharply lower, following heavy losses across US and European markets overnight.
Investors have turned more cautious on fear of overvalued stocks and the economic impact of the COVID-19 pandemic.
ASX futures were down 77 points (-1.2pc) to 6,628, by 8:10am AEDT.
The Australian dollar had fallen (-1.2pc) to 76.52 US cents.
It was mainly due to the “risk off” tone in share markets, and a rising “safe-haven bid” for the US greenback.
“The Australian dollar…
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