Crash: It’s carnage across the board
Australian shares have fallen to levels not seen since the GFC as investors reacted to the carnage on Wall St and European markets overnight. The local market shed more than $50 billion on Friday, and around $100 billion in the week, the worst performance since November 2008.
RBS Morgans private client adviser Bill Bishop said developed economies had reached a point where there appeared no clear way to avoid an economic downturn.