Yahoo Finance ASX claws back losses, closes down 0.9%
The benchmark S&P/ASX200 (^AXJO) has recouped some of its morning losses, closing down 0.92 per cent after dropping to a low of 2.20 per cent.
The broader All Ordinaries index (^AORD) also finished down 1.01 per cent, after dropping 1.87 per cent at open.
The Australian dollar meanwhile dropped to 62.86 US cents, down from 63.54 US cents at the close of markets on Wednesday.
What happened this morning?
The benchmark S&P/ASX200 (^AXJO) has dived 1.90 per cent at the open, ahead of the release of likely bleak unemployment figures for the March quarter.
The broader All Ordinaries index (^AORD) also dipped 1.87 per cent at 10.15 AEST.
What happened overnight?
US stocks have fallen on dismal economic and first-quarter earnings reports, and bleak retail sales.
Bank of America, Citigroup and JPMorgan Chase & Co shares dropped off the back of a slump in first-quarter profits, while Goldman Sachs quarterly profit nearly halved.
The Dow Jones Industrial Average fell 1.86 per cent, the S&P 500 dropped 2.20 per cent, and the Nasdaq Composite dropped 1.44 per cent.
With AAP.
Make your money work with Yahoo Finance’s daily newsletter. Sign up here and stay on top of the latest money, news and tech news.
Follow Yahoo Finance Australia on Facebook, Twitter, Instagram and LinkedIn.
