Australian shares on Tuesday hit a more than three-month low, pressured by miners and energy stocks, due to overnight Wall Street losses as possible delays in fresh stimulus raised concerns about a longer recovery path for the U.S. economy.
FILE PHOTO: A board displaying stock prices is seen at the Australian Securities Exchange in Sydney, Australia, February 9, 2018. REUTERS/David Grayslid 0.6% to 5,790.10 by 0034 GMT, after falling 0.9% to hit its lowest since June 16 earlier. It lost 0.7% in the previous session.
Wall Street’s main indexes closed lower on Monday over the possibility of delays in fresh stimulus from Congress following the death of U.S. Supreme Court Justice Ruth Bader Ginsburg. Congress has for weeks remained deadlocked over the size and shape of another coronavirus-response bill, on top of the roughly $3 trillion already enacted into law.
Concerns about new lockdowns in Europe and the UK also spurred fears of obstruction to a nacent recovery in the global economy and further pressure to equity markets.down as much as 2.5% to its lowest level since Sept. 4.
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