![]() Newspapers were using terms like "bloodbath", "mayhem" and "carnage" to describe the extent of fear being felt across every share market in the world. The ASX 200 plunged 9.7 per cent, which worked out to be $160 billion. That caused the market to wipe out all its gains from the past four years (in a single day). They finally decided that COVID-19 was a serious problem that wouldn't "disappear" any time soon (despite US president Donald Trump's insistence at the time). It was also when the Australian market had suffered its worst trading day since the 1987 crash.īasically, a flood of panicked investors hit the "sell" button at the same time on March 16, 2020. ![]() That was despite the world facing its worst health crisis in more than 100 years.
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