Australian Market Crashes to Worst Day in Almost a Year Amidst Global Rout

The Australian stock market (ASX 200) fell 2.03% on Thursday, marking its worst day in almost a year, as investors reacted to heavy losses across U.S. markets and concerns around artificial intelligence spending. The S&P 500, Nasdaq, and Dow Jones Industrial Average all dropped, wiping over $1 trillion from U.S. equity values. Bitcoin and crypto markets also crashed, with Bitcoin falling 20% over the past week. Economic data, including rising jobless claims and falling job openings, fueled uncertainty.