Reported about 11 hours ago
Shares of Australia’s major banks paused on Monday after experiencing a significant decline of over A$63 billion ($40 billion) in market value due to a recent sell-off. The 'Big Four' banks had previously enjoyed unprecedented gains but were affected by an interest rate cut, modest earnings growth, and increased bad debts. Despite a slight rebound on Monday, financial stocks remained down more than 7% since February 12, indicating ongoing risks as valuations stay high.
Source: YAHOO