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

No let-up to share market sell-off as recession fears build

There are some heavy emotions attached to the share market, aren’t there?

Emotions like greed and fear, and the anxiety attached to uncertainty.

This week has seen the Australian Securities Exchange swiped sideways by heavy selling.

The benchmark ASX200 index closed Friday’s session down 116 points, or 1.7 per cent, to 6,474 points.

So, from its all-time high set in August last year, the Australian share market is now down 15 per cent.

To be classed as a “bear” market, it will need to fall at least a further 5 per cent.

So will it? And then what happens?

Let’s take a look.

The market damage has been extensive

Global shares are down around 6 per cent, and Australian shares are down by around 7 per cent (as of Friday afternoon) on the week.

Stock falls have been led by technology stocks and resources (miners), retailers and financials (banks).

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