ASX to fall as World Rugby flags billion-dollar cup

·2-min read
The ASX board and mens and women's rugby players standing in front of the Harbour Bridge lit up to celebrate Australia hosting the 2027 and 2029 Rugby world cups.
The ASX is expected to fall this morning as Australia prepares to host the Rugby world cup. (Source: Getty)

ASX: The local market is expected to fall this morning after a series of swings on Wall Street overnight.

This comes after Australian technology stocks suffered their worst single-day losses since early in the pandemic, while the local bourse hit a 14-week low after declining for a fourth day in five sessions.

Wall Street: US stocks closed lower on Thursday following sharp swings between gains and losses earlier in the session.

The sell-off builds on a recent losing streak spurred by continued inflationary pressures and renewed worries the Federal Reserve's price-mitigating efforts may be more aggressive than anticipated.

Crypto: The main founder of Ethereum cryptocurrency, Vitalik Buterin, has made a major donation to UNSW to help build a tool aimed at warning of future pandemics.

Buterin gifted US$4 million to UNSW to establish the Shiba Inu OSINT Initiative.

Big four: Australia's major banks look set to boost earnings over the next few quarters as they benefit from a robust turnaround in the economy, but they will have to come to grips with growing cost pressures.

Billion-dollar cup: World Rugby believes the first billion-dollar rugby world cup will take place within the next decade - and that landmark event could be the 2027 men's tournament in Australia.

The game's global organisers say they've mapped out "a mandate for the future of the sport" by announcing on Thursday the next five hosts of men's and women's world cups through to 2033.

Giant leap: Plants have been grown in soil from the moon for the first time.

The milestone in lunar and space exploration is a first step towards one day growing plants for food and oxygen on the moon or during space missions.

Extra leave: A government proposal that could make Spain the first country in Europe to allow workers to take menstrual leave has sparked debate over whether the policy would help or hinder women in the workplace.

Black hole: Scientists have provided the first look at what they called the "gentle giant" lurking at the centre of our Milky Way galaxy, unveiling an image of a supermassive black hole that devours any matter wandering within its gargantuan gravitational pull.

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