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.
- 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.