$60bn wiped from Australian stock market on worst day for ASX in 18 months

Labor accuses government of being ‘complacent’ about economy as ASX200 falls amid fears of a global recession

The Australian stock market has suffered its worst day in almost 18 months after $63bn was wiped off the value of shares amid mounting fears of a global recession.

The benchmark S&P/ASX200 index on Thursday tumbled 187.8 points, or 2.85%, to 6,408.1 points, while the broader All Ordinaries shed 186.7 points, or 2.8%, to 6,490.8 points.

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