Australian shares are expected to fall despite Wall Street recording its strongest month of August in more than three decades, while the Reserve Bank is almost certain to keep interest rates at record lows.
Australian shares are expected to fall sharply in early trade, following a weak performance across global markets.Wall Street's benchmark index, the S&P 500, slipped from its record high to 3,500 points overnight.
Investors are still flocking to technology stocks, which are seen to be strong money makers during the COVID-19 outbreak. "The US just passed 6 million cases, a further reminder that the pandemic is here to stay until we do something about it.European markets closed in the red, with Britain's FTSE and Germany's DAX losing more than 0.6 per cent each.Investors are trading cautiously ahead of today's Reserve Bank decision, and tomorrow's GDP figures. The RBA is almost certain to keep interest rates at record lows.
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