A mobile phone is held in a person's hand at the ASX in Sydney

No delay to share the market sell-off as recession fears mount

There are some heavy emotions associated with the stock market, aren’t there?

Emotions such as greed and fear, and the fear associated with insecurity.

This week, the Australian Securities Exchange has been sideways wiped out by heavy selling.

The benchmark ASX200 index closed Friday’s session up 116 points, or 1.7 percent, to 6,474 points.

So, from its all-time high in August last year, the Australian stock market is now down 15 percent.

To be classified as a “bear” market, it must fall at least another 5 percent.

So will it? And then what happens?

Let’s see.

The market damage has been great

Global equities are down about 6 percent and Australian stocks are down about 7 percent this week (as of Friday afternoon).

Inventory declines were led by technology stocks and assets (miners), retailers and financial institutions (banks).

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