The Australian share market has plunged after a shock political move by the Labor Party.
Australia’s share market has plunged after a shock political move by the Labor Party. The ALP have announced that they will put forward a no-confidence motion in Prime Minister Boris Johnson, with a view to ousting him from office. If successful, the motion would be the first time in history that an Australian prime minister has been ousted in this way.
The surprise announcement came just hours before Johnson was due to address parliament on October 27th, where he was expected to call an election. The no-confidence motion is expected to be voted on by October 31st and would force Johnson out of office if it is successful.
What is Australia’s share market?
Australia’s share market refers to the Australian Securities Exchange (ASX), which is a trading platform for companies looking to raise capital or trade their shares with investors. It operates like other stock exchanges around the world, but there are some key differences between it and its international counterparts.
