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a hundred billion dollar has been wiped from the ASX in a session marking its single worst day since early in the covid pandemic the ASX 2 200 fell sharply on opening and went down from there it is the second consecutive sell-off sparked in part by fears the US is heading for a recession losses spread across all sectors but it Financial energy and real estate stocks were hardest hit the ASX 200 and the all ordinaries finished the day 3.7 and 3.8% down cryptocurrencies didnamp;#39;t escape the Carnage with Bitcoin down by 18% the Australian dollar is down by 1.7% buying just below 64 us the reasons for the sell-off are twofold ing to Wilson asset Managementamp;#39;s lead portfolio manager Matthew halp but he says the primary explanation rests with the bank of Ja Pamp;#39;s decision last week to lift the cash rate from artificially low levels that impacted the carry trade thatamp;#39;s a strategy where investors borrow a low interest rate currency for investment elsewhere yeah itamp
