Australia shares end lower on fears of severe economic damage [Reuters]
WOODSIDE PETROL LTD S/ADR (WOPEY)
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Source: Reuters
Australia shares end lower on fears of severe economic damage * ASX closes at lowest in almost two weeks * RBA says economy could shrink significantly in first half * Data suggests 6% of jobs lost mid-March to early April * NZ sees worst session in four weeks (Updates to close) By Arpit Nayak April 21 (Reuters) - Australian shares closed at a near two-week low on Tuesday as fears of a severe economic damage deepened following its central bank’s comments, while a historic drop in crude prices overnight dragged energy stocks lower. The S&P/ASX 200 index ended 2.5%, or 131.70 points, lower at 5,221.30, its lowest close since April 8. Reserve Bank of Australia Governor Philip Lowe said the country would suffer its biggest economic contraction since the 1930s in the first half of this year due to the containment measures enforced to curb the coronavirus’ spread. Although Australia has eased some of these restrictions as the virus’ spread showed signs of slowing, unemployment remains a conc
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