'Wiped close to $100 billion' off stock market value: ASX plunges

Sky News Business Editor Ross Greenwood says it was “pretty bad out there”, regarding the ASX.

“The ASX 200 started the day, was a fairly modest fall at the start … down by around 100 points. But as really the momentum built up during the day when the Japanese and Korean markets hit the skids,” Mr Greenwood said.

“The ASX 200 down by 3.7 per cent, 293 points – that wiped close on $100 billion off the value of our stock market today.

“There was almost nowhere to hide.”

[NancyAllen-nt]

AI stocks are set to dominate 2024. I prefer NVIDIA because they're well-positioned for long-term growth and support other AI companies. I know someone who made over 200% with NVIDIA. I'll also consider the other recommendations you made.

[Jannaraymond]

If you are not in the financial market space right now, you are making a huge mistake. I understand that it could be due to ignorance, but if you want to make your money work for you.... prevent inflation

[journeyman]

Unemployment is closer to 15% and inflation closer to 30%. Same in Australia.

[ActiveDodger]

War, Recession, Crash, what a great time to be alive.

[chrisolsen]

Why as an American am I coming to an Aussie news outlet more and more often to get my news? Keep it up Sky News!

[lynmay]

This is the world coming to an end all because of our stupid politicians and GREED!😖😖

[terrydavis]

Didn't Diaper Joe tell us that the US economy was booming under his own brand of wrecking ball? Please, no-one ask Cackling Kamala about economics!! She was in charge of the southern border and her performance down there makes Diaper Joe's economic achievements (LOL) look awesome.

[robstone]

I am off to Coles to buy toilet paper!!

[ykcdqjd]

One of the most obviously predictable market down turns in history.

[tomobedlam]

What's the news from the toilet paper aisle?😮

[JamesBond-vngh]

Well, that's Kamala and Joe policies for you, they keep spending and printing.

[fromthebirchwood]

I’m convinced that investing 50k-100k in the right company before it goes big is more important than buying the dip, however picking the right company can be hard. My question is, what are the best opportunities to accrue profits now, amid market crash?

[robertdujin]

The World Debt. Just keeps on rising 😂😂😂😂😂😂😂

[rollickplays]

I am in usa it is 5 am its going to be a blood bath today.

[alanhughes]

35 trillion us dep't has opened up eyes.

[pommygeezer]

2024 : The year that keeps giving & giving

[Mrmike-gp]

Watching the crypto market's ups and downs shows how quickly things can change. In crypto, strategic, informed trading isn't a choice; it's a must. Remember, caution is as crucial as ambition here. This dedication to continuous learning is inspiring...managed to grow a nest egg of around 1.2Biitcoin to a decent 11.4Biitcoin... I'm especially grateful to Harry’s Dent, whose deep expertise and traditional trading acumen have been invaluable in this challenging, ever-evolving financial landscape…..

[kidsoxoxox]

And Gold in $AUD only keeps going up :)
Fiat is for deluded fools.

[annazhong]

So now the age of retirement is raised to 200 years old. It’s good for the economy.

[windsongwong]

Eventually all things insane must become sane.
How can business do well when interest rate is so high ?
Similarly, stocks cannot be high when fundamentals are weak.