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Global crash: what happened to the markets?



Tech stocks lead US markets

It’s been a rough 24 hours for global stocks, which have finally declined on the news of rising coronavirus cases around the world, with Europe experiencing their worst session of the year

What’s happening around the world?

In New York, the Dow Jones Industrial Average tumbled more than 2%….major indexes in France and Germany also fell.

London fell 2.6% to below the 7,000 level, led by broadcaster ITV and British Airways-owner

In England, most remaining Covid restrictions have now been lifted.

However, new cases are continuing to rise in some countries fuelled by the Delta variant…

Two of Australia’s largest cities Sydney and Melbourne are still in lcokdown, while South Australia has also imposed tough new restrictions overnight.

So investors have finally started to pay attention and react to the Delta variant spread

James Whelan from VFS Group says its the correction that needed to happen, and it’s just a minor blip.

Christopher Uhl from 10 minute Trading says “we were due for a pull back”

“We finally got the pull back that we were calling for for the last couple of weeks. The market is well overdue with the S&P500 at one point up over 16% on the year,” Uhl told ticker.

The S&P closed near session lows with a 2 per cent selloff.

“There’s a good chance we will see a bounce this week as we saw the exact same thing happen almost a month to the day where the S&P dropped 1.7% on June 18 then rocketed up 5.5% over the next three weeks. As far as technicals go, this is a dangerous position for the market, if we don’t get a reversal tomorrow, there’s a chance that there’s a lot further this could drop.”

Big Markets spill

Big market spill, oil spilt a lot more after OPEC increases production.

This has more of a feel of beginning of Covid’s effect on markets in March 2020. A lot is being attributed to delta variant, but this is not new news over the weekend.

Oil biggest fall since March, Europe worst equity move of 2021. 

Oil now has certainty for its reduced cuts, but we were near 2 year highs, and again markets just don’t know what the delta variant will do to global demand . 

F45 already down 15 per cent from IPO price based on Covid fears after commencing trading on Thursday last week

Robinhood IPO announced, value will be close to $40Bn. Now all that needs to happen is a collaboration between them, Peleton and F45 and tradercise will be the next big thing.

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Moody’s downgrades China credit outlook, cites growth concerns



Moody’s Investors Service has downgraded China’s credit outlook, expressing concerns about the country’s economic growth prospects and the ongoing property market crisis.

The credit rating agency revised its outlook from stable to negative, citing a combination of factors that are putting pressure on China’s economy.

China’s economic growth has been slowing down in recent years, and Moody’s warns that this trend is expected to continue. The country faces challenges such as high debt levels, a rapidly aging population, and a declining labor force. These factors could hamper its ability to sustain robust economic growth in the future.

Additionally, the ongoing property market crisis in China is a major concern for Moody’s. The real estate sector has been a significant driver of the country’s economic growth, but it is currently experiencing a severe downturn with falling property prices and a growing number of unsold homes. This crisis has the potential to further weigh on China’s economic performance.

Moody’s decision to downgrade China’s credit outlook raises questions about the country’s ability to manage its economic challenges effectively. It also underscores the importance of addressing issues in the property market to prevent a broader economic crisis.

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Australia Post to shift to alternate-day mail delivery



In a move aimed at modernising its operations and accommodating the growing e-commerce industry, Australia Post has announced plans to reduce letter deliveries to every second day.

This significant shift is part of a broader strategy to expand its parcel business and adapt to changing consumer preferences.

Australia Post has recognized the declining demand for traditional letter services in an increasingly digital age. With more people communicating electronically and relying on email and messaging apps, the postal service has faced challenges in sustaining daily mail deliveries. By transitioning to alternate-day letter delivery, Australia Post aims to optimize its resources and focus on meeting the surging demand for parcel deliveries, driven by the booming online shopping market.

This strategic shift comes as a response to the changing landscape of postal services worldwide. Many postal agencies are diversifying their services to remain relevant and profitable. Australia Post’s move is expected to not only streamline its operations but also reduce costs associated with daily letter deliveries, ultimately benefiting both the organization and its customers.

While the change may be welcomed by those who prefer faster parcel deliveries, it raises questions about the impact on individuals and businesses reliant on daily mail services. Australia Post will need to address concerns regarding the potential delay of important correspondence and provide solutions to ensure minimal disruption for customers during this transition period.

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RBA maintains 4.35% rates as mortgage applications surge



The Reserve Bank of Australia (RBA) has decided to keep its official cash rate at 4.35%, citing concerns over the rapidly increasing number of mortgage applications.

This decision comes after several consecutive meetings where the RBA has refrained from adjusting interest rates.

The central bank’s decision to hold rates steady reflects their cautious approach to managing the current housing market boom. Mortgage applications have seen a significant surge in recent months, driven by record-low interest rates and increased demand for housing. While this has been a boon for the real estate industry, it has raised concerns about the potential for a housing bubble and financial stability.

Experts are divided on whether the RBA’s decision is the right course of action.

Some argue that maintaining low-interest rates is necessary to support economic recovery, especially in the wake of the COVID-19 pandemic. Others worry that the continued surge in mortgage applications without rate adjustments could lead to unsustainable levels of household debt.

In light of this decision, homeowners, prospective buyers, and investors will be closely watching the housing market’s trajectory and wondering how long the RBA can maintain its current stance.

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