Markets Shake as AI and Rates Take Toll | Sydney News

Australia’s sharemarket tumbled today as big names like NAB and JB Hi-Fi took heavy hits—JB Hi-Fi plunged nearly 10% citing AI-driven supply chain chaos, while NAB fell 4.5% despite a strong profit jump, blaming rising rates and global turmoil. Other banks and a2Milk also slid, though mining and energy edged up. Wall Street mirrored the gloom, with retail sales missing forecasts, sparking fears of a slowdown as central banks struggle to balance inflation and recession risks. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/ba4f3b3ac554a6c8