Australian Shares Plunge 7.4%, Worst Drop Since 2008
Mohammad Ali (@ChaudhryMAli88) Published March 12, 2020 | 11:00 AM
Sydney, (UrduPoint / Pakistan Point News - 12th Mar, 2020 ) :Australian stocks plunged 7.4 percent Thursday, the worst one-day drop since the financial crisis in 2008, hammered by fears over the economic impact of the coronavirus pandemic.
The ASX 200 tumbled 421.3 points to 5,304.
6 after Donald Trump announced a ban on travel from Europe, while an US$11 billion stimulus unveiled by Canberra to counter the outbreak disruption failed to improve investor confidence.
Travel-related stocks were among the biggest losers with Webjet down 20 percent, Flight Centre off 19.6 percent and Qantas losing 9.9 percent.
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