Iron ore is Australia’s number one export. Australia is the world’s iron ore powerhouse, with Brazil a close second. If iron ore prices fall below that and keep falling this is bad news. It will have a big effect on the Australian governments bottom line…
The Dow Jones Industrial Average surged massively overnight, jumping 11.4% or 2,113 points, marking the largest increase since 1933. The ASX 200 followed markets in the US, surging 5.82% in the first 30 minutes of trading this morning. Coinciding with the meteoric rising of global market indices was a 4.75% rise in the gold price […]
Infection spikes and stories of superspreaders continue to dominate the headlines.
But underneath the news are much bigger problems.
The Westpac Banking Corporation [ASX:WBC] share price is trading 9.58% lower this afternoon, following more news of measures to curb COVID-19 and special measures to be introduced by the banks…
The fact is this… We — the taxpayer — are being asked to underwrite the risks of private businesses. In the modern world, profits are private; losses are social.
After checking the markets over the weekend, I noticed US markets were down about 4.5% during trade on Friday.
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