Summary

  • SPI futures are down 1.9% and point to sharp early losses for the ASX 200 on Friday
  • Tech stocks were hammered in overnight Wall Street plunge, with the main US indexes marking their deepest one-day dives in months. 
  • Iron ore rose 2.1% to $US129.92 a tonne, Spot gold fell 1.4% to $US1943.58 an ounce, Brent crude dropped 1% to $US44.01 a barrel, and US oil slipped 0.5% to $US41.29 a barrel
  • Virgin Group founder Richard Branson and the union representing the bulk of workers at the collapsed airline are backing Bain Capital’s $3.5b offer for Virgin

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Good morning

Good morning folks, and welcome to Markets Live. Your editor today is Alex Druce.

Looks like it’s going to be a messy one to end the week. Wall Street was smashed last night and SP futures are down nearly 2 per cent.

This blog is not intended as financial advice

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