Australians have lost an estimated $90 billion from their superannuation funds in a sharemarket rout triggered by the Trump administration’s global trade reset, which economists say is likely to trigger a round of interest rate cuts to bolster consumer confidence.
The Australian sharemarket’s benchmark S&P/ASX 200 index tumbled into a correction on Friday, which is marked by a 10 per cent decline from its previous high, following a brutal session on Wall Street, where $3.85 trillion was wiped off the S&P 500 index.
Source: https://www.afr.com/markets/equity-markets/90b-wipeout-in-superannuation-wealth-could-force-rba-to-cut-rates-20250404-p5lp4u