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Not a happy space with overseas markets overnight - and this...

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    Not a happy space with overseas markets overnight - and this will affect the ASX today (despite the ASX being resilient over the last three trading days).

    In Europe, the FTSE was the only exchange in the green - but up just a single point. The DAX had another large fall and closed down 149 points. The CAC fell 40 points.

    An interesting thing to come out of the UK was that BT has set a timeline has been set to get rid of all telephone land lines by the end of 2024.

    In the US, the DOW fell 388 points (largest single day fall in 6 months). The NASDAQ Biotech Index rose 28 points, the NASDAQ Composite fell 207 points and the Russell small cap index fell 22 points.

    US FED comments that interest rates will be raised one more time in 2023 set a new level of pessimism on the markets in the US.

    Data showed that consumer sentiment is falling, and US house prices are rising. Data on US GDP and PCE inflation is due out later this week.

    Looming gov't shutdown is now seriously spooking the markets and the US credit rating will drop as a result of a shutdown.
 
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