Morning Report 23 March 20: ASX braces for further losses

US sharemarkets fell by 3.8-4.6% on Friday. New York joined California in ordering non-essential workers to stay at home. Investors await a US$1 trillion stimulus package that may be voted on, on Monday. After trading in a 1,437-point range the Dow Jones index closed lower by 913 points or 4.6%. The S&P500 index fell by 4.3% and the Nasdaq lost 271 points or 3.8%. Major indexes posted their biggest weekly falls since October 2008. Last week the Dow fell by 17.3%, the S&P 500 fell by 15% and the Nasdaq lost 12.6%.

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