# Australian share market suffers $55 billion loss on China lockdown fears - ABC News

> Australian shares fell 2.1% to 7,318 points on April 26 as commodity prices slumped on worries over China's COVID restrictions. About $55 billion was wiped from the local market, and the Australian dollar hovered near a two-month low at 72.1 US cents.

- Date: 2022-04-25 · published 2022-04-25T12:00:00.000Z
- Category: macro · region China · magnitude low
- Page: https://feedsoft.ai/events/42095-australian-share-market-suffers-55-billion-loss-on-china-lockdown-fears-abc-news
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md), [Corn](https://feedsoft.ai/c/CORN.md)

## Why it matters

Fears of weaker Chinese growth and lockdowns reduce demand for industrial and agricultural commodities and weigh on commodity-linked currencies. The move signals softer Chinese import demand ahead.

## Read by commodity

- CORN: neutral
- AUDUSD: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| CORN | 2023-03-08 | [Ethanol exports up sharply on month - Brownfield Ag News](https://feedsoft.ai/events/36841-ethanol-exports-up-sharply-on-month-brownfield-ag-news.md) | -1.6% | -0.6% |
| CORN | 2019-09-20 | [China cuts new loan rate for second month but struggling economy likely needs more](https://feedsoft.ai/events/57291-china-cuts-new-loan-rate-for-second-month-but-struggling-economy-likely-needs.md) | +1.7% | +4.4% |
| CORN | 2021-11-17 | [USD/BRL chops either side of 5.50 level as government forecast tweaks stink of staglation: Analytics and Market news from 17 листопада 2021 18:04](https://feedsoft.ai/events/44254-usd-brl-chops-either-side-of-5-50-level-as-government-forecast-tweaks-stink-of.md) | +1.0% | +3.9% |
| CORN | 2019-07-23 | [High production, competing proteins, closed foreign markets challenge U.S. chicken industry](https://feedsoft.ai/events/58239-high-production-competing-proteins-closed-foreign-markets-challenge-u-s-chicken.md) | +0.9% | -10.8% |
| CORN | 2017-05-26 | [Soybean market described as fragile](https://feedsoft.ai/events/71036-soybean-market-described-as-fragile.md) | -0.1% | -2.3% |

## Sources

- abc.net.au: https://www.abc.net.au/news/2022-04-26/asx-australian-dollar-wall-street-rebound-twitter/101014828

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.