17/11/2022

ASX slides as other world markets try to find their footing

The ASX was looking good at the start of the week, but with the US wobbling around a recession and crypto crashing, all gains were erased. Stocks dropped to a low not seen since the start of the pandemic panic.

Commonwealth, ANZ, and Westpac ordered to pay up

Up to one million customers could be eligible for compensation from the big banks after a major class action win. The lawsuit was over consumer credit insurance which customers were sold while taking out personal loans and credit cards.

Funds vanish from crypto exchange

FTX, one of the world’s largest cryptocurrency exchanges, filed for bankruptcy on Friday. Hours later, US$477 million was missing from the exchange. A probe is underway.

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