RATE Group | Australian Share Market Reveals Potential Storm for US Equities While Bitcoin Falls
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Australian Share Market Reveals Potential Storm for US Equities While Bitcoin Falls

23 Mar Australian Share Market Reveals Potential Storm for US Equities While Bitcoin Falls

Posted at 02:23h in Bitcoin News by

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The Australian share market fell sharply during its opening session of trading on Monday (AEST) after the country’s Prime Minister announced drastic measures to curb the spread of coronavirus (COVID-19).

Reeling from its worst week since the global financial crisis in 2008-2009, the benchmark S&P/ASX200 has fallen from Friday’s close of 4,816 basis points to around 4,536, after Prime Minister Scott Morrison declared historic measures to curb the rise of COVID-19 from within the country.

On Sunday, March 22, Morrison ordered that all pubs, clubs, churches and indoor sporting venues must close until further notice, while essential services such as grocery stores, gas stations and banks were to remain open. Australian schools will remain open for now. As of Sunday morning, the government reported 1,098 confirmed cases and seven deaths.

The new measures aim to limit the spread of the deadly virus that has sent developed economies into free fall in recent weeks with the ASX responding with…

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