Australian Stock Market Experiences Steepest Single Day Fall Since 2022

The ASX’s performance follows in the wake of the U.S. market last week.

A man watches the display board at the Australian Stock Exchange in Sydney, Australia on Nov. 10, 2016. Rick Rycroft/AP

The Australian stock market has had a challenging start to the week, diving more than 3 percent amid weak economic data and global recession fears.

The benchmark ASX 200 index plunged 3.21 percent at the time of writing to 7,688.3 points, wiping billions from the market in the worst single-day fall since 2022.