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There is no denying that October has thus far been a dire time for investors, with the All Ords falling from 6325 to (at the time of writing) 5793 just 25 days later. This represents a fall of approximately 8.5%. As such it has effectively wiped off all gains made in the prior 12 months. Furthermore we are officially into “Correction” territory from a technical perspective, as it has now fallen over 10% since 4th September.
The Dow Jones has suffered a similar fate to our own, albeit a slightly reduced 7% fall since the start of the month.
As is often the case our sharemarket today (25th Oct) seems to have taken a cue from Wall Street and suffered a similar 2.5% decline. This was following a range of disappointing trade and economic news, combined with Italy and the EU having a feud over their budget, and finally continued concerns over global trade tariffs.