Evening Report: Aussie Market Rebounds From Initial Sharp Decline

Following a sell off on Wall Street overnight, the index was down as much as by 220 points or 3.3% before a turnaround of near 7%. An important catalyst for the turnaround was the news that the US would announce fiscal stimulus to boost the world’s largest economy. By close, the ASX 200 added 179 pts or 3.11% at 5939.6 to finish on best levels of the day.