ASX falls as global virus concerns overshadow NSW scare
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The emergence of a new, more infections, strain of the coronavirus ahead of the holiday season has dealt a blow to any hopes of a Christmas rally for Australian shares.
The S&P/ASX 200 Index fell 70.30 points, or 1.1 per cent, to 6599.6, inflating fears the virus iteration could trigger an increase in restrictions heading into the new year – just as jurisdictions scramble to roll out vaccines.
Positive local news failed to lift the ASX.
Concerns about the consequences for the already-stunted recovery in travel and any economic normalisation pushed oil markets sharply lower overnight. US crude oil fell as much as 6 per cent before recovering to trade near $US47.6 a barrel heading into the local close.
ASX hits three week low as mutated virus strain sparks global sell-off
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