ASX to fall as Aussie households warned of more financial pain

·Personal Finance Editor
·2-min read
The ASX board showing prices in the red and Australian currency.
The ASX is expected to fall this morning as Aussie households brace for more financial pain. (Source: Getty)

ASX: The local market is expected to fall this morning in response to interest rates increasing in other nations around the world.

This comes after the ASX suffered its third fall in four sessions on Wednesday off the back of an anxious US session.

Wall Street: US stocks closed lower on Thursday to cap a turbulent session after the Federal Reserve’s latest policy announcement and subsequent remarks from chair Jerome Powell sent markets into disarray.

Taxi levy: NSW rideshare and taxi passengers will pay levies for another two years as taxi licence owners move a step closer to securing further compensation.

The government has outlined its plan to deliver a further $500 million to licence holders, on top of $145 million in payments already doled out.

Budget bust: The Assistant Treasurer has flagged further stress for household budgets following a spike in US interest rates.

Stephen Jones said Australia's economy wasn't immune to international pressures, including from the US.

Airport chaos: High winds and heavy rainfall led to hundreds of travellers being stranded at airports around the country as dozens of flights coming in and out of Sydney were cancelled.

Up to 40 flights due to land or depart were cancelled on Thursday morning as severe weather warnings were issued by the Bureau of Meteorology.

Crypto: Work on an Australian regulation regime for cryptocurrency is expected to step up next year.

The Assistant Treasurer said about 1 million Australians had invested in what he described as a "very opaque market".

Reef research: As ocean temperatures continue to rise, scientists are calling for a global approach to climate-related reef research.

Australian researchers have been tracking the country's reef populations for more than a decade and say warmer water affects tropical and temperate reef fish communities differently.

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