ERROL PARKER | Editor-at-large | Contact
The Australian Stock Exchange has opened softer this morning amid fears Melbourne’s recent spike in coronavirus cases will trigger a wider outbreak.
News that the market has tumbled this morning caused Toorak private banker, Michael John-George, to purse his thin little lips and nod solemnly at our reporter this morning via Skype.
“It’s not good news,” he said.
“And it’s not good news either for those poor people stuck up in those garish towers near the racetrack. I hear most of those people are stuck there against their will, which is concerning,”
“This news that the virus has broken containment lines have seen investors lose confidence in the market this morning, which has triggered some small-scale sell-offs. As I talk to you know, the market is down one-tenth of a per cent. While that doesn’t sound much, to large institutional investors, it can mean millions of dollars,”
“We’re all in this together. I just feel so helpless. How can I help them without spending money?”
More to come.
