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How do politics affect the stockmarket. What happened to the stockmarket the day Whitlam was sacked for example?

By Intelligent Investor · 8 Sep 2000

By Intelligent Investor ·
8 Sep 2000

If a government is perceived to be a bad economic manager, the effect of political events can be extreme. The news of the sacking of the Whitlam government, for example , hit the trading floors of the Sydney Stock Exchange around 2.15pm on 11 November, 1975. In those days the Sydney Stock Exchange closed at 3.00pm so the traders had only 45 minutes to celebrate with a massive buying spree. The end result was that the All Ordinaries Index, as it was then calculated, closed up 4.31% on the previous day.

IMPORTANT: Intelligent Investor is published by InvestSMART Financial Services Pty Limited AFSL 226435 (Licensee). Information is general financial product advice. You should consider your own personal objectives, financial situation and needs before making any investment decision and review the Product Disclosure Statement. InvestSMART Funds Management Limited (RE) is the responsible entity of various managed investment schemes and is a related party of the Licensee. The RE may own, buy or sell the shares suggested in this article simultaneous with, or following the release of this article. Any such transaction could affect the price of the share. All indications of performance returns are historical and cannot be relied upon as an indicator for future performance.

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