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Australian shares to fall as IMF warns of ‘uncertain’ recovery; Wall Street slips on ‘bubble’ concerns – ABC News

Australian shares are set to open lower as Wall Street struggled for direction on concerns it may be in “bubble” territory, while the IMF expects the global economy…



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Australian shares are set to open lower as US markets slipped from their record highs on concerns it may either be “overvalued” or in “bubble” territory.
Key points:

  • The IMF is expecting the global economy to have shrunk (-3.5pc) in 2020
  • It predicts an economic rebound of 5.5pc this year
  • The US, Japan and other major economies are expected to pass more stimulus in coming months

ASX futures were down 22 points (-0.3pc) to 6,748, by 8:20am AEDT.
The Australian dollar had risen (+0.6pc) to 77.51 US cents.

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