From jet fuel to bad debts, good hiding places are difficult to find
It’s one of those days when fund managers prepare for one trading session in the morning, and another in the afternoon. But the tide is out on growth.
Lowering global growth expectations have the tide going out on equities broadly, while investors shoot down anything at risk of energy disruption.
The result is the sort of broad and deep sell-off we’re seeing on Monday – the S&P/ASX 200 Index is down another 1 per cent in early afternoon trade, with all sectors in the red except utilities and consumer discretionary stocks.
