Sharemarket ‘not good at all’ as profits fall

Sky News business editor Ticky Fullerton says the ASX is simply "not good at all” as shareholders lose profits. “When the markets opened we went into technical correction territory, which is when the market is down 10 per cent,” Ms Fullerton said. “All the profits this year that shareholders have had, which is over seven per cent, is gone”. More bad news is expected to come when margin calls come in. “If some people are holding shares that they can’t afford to hold and they’re not prepared to top up as those shares fall in value, they get a call and in some cases those holdings are automatically liquidated”. “So that’s going to put more pressure on the market.” Image: News Corp Australia

from National | Daily Telegraph https://ift.tt/32FNVGk