Australian Stock Report - Market Pulse
Midday Market Analysis: September 12
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Publish date: Mon, 12 Sep 2011, 01:37 PM
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Welcome to MarketPulse, the Australian Stock Report's financial market blog. In the MarketPulse blog we aim to provide frequent updates on current events across the financial markets, including market wraps, articles in the news, opinions, reviews, financial education and finally our top tip of the week. The blog is published by the Australian Stock Report research and report editing team together with our very own "Passionate Trader", Carl Capolingua.
The Aussie market is suffering through a violent selloff so far today, with the XJO currently down more than 140 points (-3.5%).
Every sector is heavily underwater with health care, energy and financial stocks all enduring heavy falls.
The start of the new trading week has been even worse than anticipated with investors rushing for the exits amid ongoing concerns about Greece's debt problems.
In company news, Cochlear has fallen off a cliff this morning after issuing a product recall after identifying an increase in the number of implant failures for one of its models.
The stock was down 26% at one point but is currently down 20%.
Around the region, Asian markets are suffering a similar fate to the Aussie market; the Hang Seng is down 3.4% whilst the Nikkei is down 2%.
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Midday Market Analysis: September 12 is a post from: Australian Stock Report Market Pulse Blog
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