Share markets run out of saviours | 7NEWS

It’s a selloff that’s played out even more severely in other markets around the world – the NASDAQ is down 27 per cent so far this year – and some market watchers say there could be much more pain ahead.

“Essentially, the issue for markets is that all of the safeguards, all of the potential white knights for markets, have disappeared,” said Michael McCarthy, chief strategy officer for Tiger Brokers Australia.

“High inflation means that central banks are no longer in a position to support markets. The COVID expenditure and the expansion of government balance sheets means that governments are in no position to support markets.”

Share markets run out of saviours | 7NEWS