ASX to retreat as US markets tumble on virus fears

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Summary

  • ASX futures are down 0.6% and point to early losses after virus concerns fuelled a sharp selloff on Wall Street last night¬†
  • The Dow Jones Industrial Average fell 1.1%, the S&P 500 lost 1%, to 3,537.01 and the Nasdaq Composite dropped 0.65%
  • Wesfarmers CEO¬†Rob Scott has defended product sourcing from countries such as China, warning moves to limit the countries the retail giant can purchase from would only burden Australian families
  • The virtual 2020 Sohn Hearts and Minds conference kicks off today, featuring US fund manager Bill Ackman and a host of local stockpicking experts

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Good morning, TGIF

G’day folks, and welcome to this TGIF edition of Markets Live.

Alex Druce is your editor today, and will steer you through to the end of the week.

Early losses tipped for the ASX 200 after US markets dropped overnight amid a continued spike in virus cases.

This blog is not intended as financial advice.

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Source: Thanks smh.com