Australia news live: ASX slumps amid tech selloff; Australians unhappier now than during the pandemic
Australian shares open sharply lower after a selloff in technology stocks in South Korea and the US caused a broader slump in global markets. Follow live Get our breaking news email , free app or daily news podcast ‘If Australian datacentres are going to power the AI revolution, we deserve a fair return’ – David Pocock Independent senator David Pocock has published an opinion piece about the growth of AI datacentres in Australia and how the gold rush should benefit Australian
The Australian stock market experienced a significant decline today, mirroring a broader international downturn sparked by a tech-sector selloff in the United States and South Korea. Amidst these financial headwinds, independent senator David Pocock has raised concerns regarding the rapid expansion of artificial intelligence infrastructure within the country. While the government has celebrated multi-billion dollar commitments from tech giants like Microsoft and Amazon, Pocock argues that local communities deserve a more equitable share of the economic benefits generated by these massive data center projects. Meanwhile, the national broadcaster is navigating internal scrutiny regarding editorial standards and public controversies involving its contributors. These developments highlight a complex period for Australia as it balances economic growth strategies with social and corporate accountability.
The intersection of global market volatility, the rapid scaling of AI infrastructure, and public discourse on corporate responsibility reflects critical challenges facing Australia's economic and social landscape.
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