Latest News About Market suffers steep fall as recession fears grow

The Australian share market fell fast after experts said the economy would battle severe challenges. The OECD told policymakers household incomes in Australia had dropped a lot. Official numbers from Treasury show this slump ranks as the deepest since the early 1990s downturn. Families now face more inflation pressure and workforce reductions. The downturn triggered debate from all sides of politics as ministers tackle the growing crisis.