This French kid provides a convenient excuse for all the blind bulls.
International markets trade in the trillions, and whilst not trivialising AUD$8bn, it's merely a drop in the bucket.
Think about this --- an average day's trade in New York is in the region of two billion SHARES. Extrapolate that by multiplying the number of shares by the average price (I have no idea what the average price per share is, but I would expect that the average price would exceed AUD$4). AUD$8bn is probably a few hours trading in New York.
This 'correction' or whatever it's called has a long, long way to go.
Avoid tall buildings and buy nappies.
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Last
8,745.2 |
Change
-73.300(0.83%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,818.5 | 8,818.5 | 8,737.5 |
| XJO (ASX) Chart |