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  • more than 100 and $20 billion have been wiped off from the value of Australian shares.

  • I mean Corona virus concerns the lowest levels since the global financial crisis is out, Business reporter Ed Boy.

  • Australian stocks have fallen more than 6% today on Corona virus fears, making today the worst day of trading since the 2008 global financial crisis.

  • The Corona virus has escalated tensions between OPEC oil producing nations and there is now fears of an oil price more.

  • The oil price dropped 30% this morning, its biggest fall in 29 years, which has sent Ozzy shares plunging.

  • Today, the oil sector is down more than 20% with companies like Woodside Petroleum Santos on oil search losing about 20 to 30% in value.

  • Major banks are down about 5% and I T companies have fallen about 10%.

  • Out of the top 200 companies on the air sex, only five of them are currently trading in positive territory.

  • I spoke to fund manager Joon Bae blew a short time ago.

  • She says the oil price war means this market volatility will continue this week.

  • The price war between the Saudi Arabia and Russia has driven that significant drop.

  • Now that has really created this panic selling simply because it's now putting a lot of pressure with high your bond market in the U.

  • S.

  • On Dhe, reminding the investors off the credit issue that created took place during the GFC wear now on the brink of bear market territory, which is when a share index loses more than 20% in value since it peaked.

  • Australian shares picked about three weeks ago, and since then we've lost 18% in value so clearly a very volatile time at the moment for investors.

more than 100 and $20 billion have been wiped off from the value of Australian shares.

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