Trading

COVID-19: Australian shares depreciate by 10%

Australia’s share market suffered its worst loss in history with stocks plunging by 10 percent at the closing on Monday amid panic due to the coronavirus pandemic.

The benchmark S&P/ASX200 index continued to dip throughout the day, closing 9.7 per cent down to 5,002 points on Monday afternoon.

The broader All Ordinaries index was down 532.5 points or 9.52 per cent, to 5,058.

Sydney stock market’s losses came despite an announcement earlier in the day by the Reserve Bank that it will begin buying bonds to help the coronavirus pandemic-hit economy.

Source: Voice of Nigeria