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ASX set to fall, Wall Avenue extends losses, S&P 500 inches nearer to bear market

Australian shares are anticipated to fall barely on Friday morning, after one other risky day on Wall Avenue as buyers weighed up the danger of fast rate of interest hikes tipping the US economic system into recession.

ASX futures have been down 0.1 per cent to 7,048 factors by 7:35am AEST. Yesterday, the ASX 200 index dropped by a steep 1.7 per cent, following a heavy sell-off on US markets.

The Australian greenback was shopping for 70.45 US cents after a 1.3 per cent rebound.

It was “underpinned by a weaker US dollar and news that Shanghai ports have resumed 90 per cent of cargo handling capacity,” stated Commonwealth Financial institution foreign money strategist Carol Kong.

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Hirak Deb Nath
Hi, I am Hirak Deb Nath. I am working as an Associate Data Analyst and Web Developer at Accenture in the Artificial Intelligence Team. I have 1.5 years of experience in Full Stack Web Development in React and 5 years of experience in Digital Marketing. I run various Blogs and E-commerce businesses in different Categories. I am a News and Media, Business, Finance, Tech, Artificial Intelligence, Cloud Computing, and Data Science Enthusiast. Additionally, I know Java, C, C++, Python, Django, Machine Learning Android Development, SEO, SMM, Figma, Shopify, and WordPress customization.

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