Live: ASX set to edge lower as oil keeps rising after Wall St slides on AI anxiety
Wall Street's key indices closed lower as investors bailed out of AI stocks, but the flow on to the ASX looks limited. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
Good morning and welcome to the ABC markets and finance blog. Stephen Letts is gearing up for a detailed account of today's market events. Wall Street experienced a sharp decline on Friday due to concerns over debt financing of the AI boom and its potential impact on returns. The Australian Securities Exchange (ASX) is comparatively insulated from these market movements and is expected to only see a slight drop in its opening prices.
Later today, the market will receive a deluge of data from China, including the Q3 GDP, monthly retail sales, industrial production, and infrastructure/property investment figures. The action is set to begin, so let's commence our live blog coverage.
Written by urgent.news from ABC News AU's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
