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ASX opens lower after Nasdaq wipes out gains for 2021 as US Federal Reserve chief fails to calm markets over inflation fears – ABC News

Australian shares fall, Wall Street’s Nasdaq index nears a technical correction after the US Federal Reserve chairman Jerome Powell took no action to curb rising…

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The Australian share market has followed Wall Street lower after the tech-heavy Nasdaq index wiped out its gains for this year as the US central bank chairman took no steps to calm the market volatility which has pushed up bond yields.
Key points:

  • The Nasdaq has tumble nearly 10 per cent from last month’s record high
  • The Nasdaq was down 2.3pc to 12,464, the Dow down 1.1pc to 30,924 and the S&P 500 down 1.3pc to 3,768
  • Following this, the Australian market lost 1 per cent in early trade

The All Ordinaries…

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