ALMOST $9 billion has been stripped from the Australian sharemarket this morning as losses continued after US markets were rattled by the Boston blast and news of a China slowdown.
Yesterday almost $15 billion was lost from Australian companies in the worst one day fall in a month on the release of figures showing the Chinese economic resurgence had faltered.
The Australian market was lower at noon, but the falls have not been as heavy as occurred in the US overnight.
Investors appear risk averse, with resources stocks the hardest hit in light of disappointing economic data out of China and the fatal bombings in Boston. …
I don’t understand where the money goes. Does everyone lose or do some make billions by buying undervalued stocks when there are selloffs after a big terror attack?