Australian share market nosedives over global recession fears | ABC News

Nearly $44 billion was wiped off the Australian share market today due to rising fears of a global recession.

Every sector posted heavy losses, with energy, materials and telcos being the weakest performers.

Presenter of The Business Elysse Morgan explains.

Image: AAP/Dean Lewins

Read more here:

For more from ABC News, click here:
If you're in Australia, you can watch more ABC News content on iview:

Subscribe to us on YouTube:
Go deeper on our ABC News In-depth channel:
You can also like us on Facebook:
Or follow us on Instagram:
Or even on Twitter:

Australia,abc,abc news,news,share market,global recession,Australian shares,asx,big four banks,banks,finance,economy,economics,stocks,ANZ,Commonwealth Bank,Westpac,NAB,money,local market,Australian economy,