Sharemarket plummets: Economic roundup
Monday, October 22, 2007/
The sharemarket went on another downwards spiral this morning before recovering to end slightly up at 1pm. By mid morning the ASX200 index had fallen 2.4% to 6545.1 before recovering slightly to 6576.2 at 1pm. The broader All Ordinaries Index was down 2.42% to 6560.8 at mid morning before edging up to 6593.4 at 1pm.
And the problem again lies in the US, where a recession warning from heavy equipment group Caterpillar and the 20th anniversary of the Black Monday 1987 sharemarket crash sent investors into a panic causing Wall Street to suffer its biggest loss in more than two months.
Caterpillar, considered to be a bellwether stock, believes the US economy will be near to or even in recession next year after lowering its forecasts for its earnings growth on the fourth quarter.
Social media mishaps: Why businesses should think twice before cracking jokes online Catriona Pollard CP Communications founder
An ‘opportunity-hunting’ generation: Here's what millennial workers need and want Karen Gately Corporate Dojo founder
Spilling the beans: Why inviting someone to 'grab a coffee' is disingenuous and unnecessary Sue Parker DARE Group founder
The 10 most unemployable job titles on LinkedIn Ian Whitworth Scene Change co-founder
How Emily McWaters manages her Sydney-based business from Kangaroo Island Emily McWaters The Hamper Emporium chief
Why 'Orwellian' performance monitoring is crucial to building an ethical company culture Michael Kodari Kodari Securities chief