Retail sales rise,ASX reverses early gains,Wall Street keeps selling as world assets fail to recover
- avawilliams012
- Sep 28, 2022
- 1 min read
Australian shares have reversed early gains as global equity indices show evidence of a deepening bear market.
The ASX 200 was down 57 points, or 0.9 per cent, to 6,439 by 1:34pm AEST, and the Australian dollar was down to 64.07 US cents.
The benchmark index opened up 0.2 per cent this morning.
Markets globally were weighed down by hawkish comments from St Louis Fed president James Bullard and Chicago Fed president Charles Evans, who made a case for the US central bank to have more rate hikes and increase interest rates by another percentage point this year, fuelling worries about global recession.
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