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ASX 200's $42 Billion Drop on AI Jitters; Westpac Reverses Course

Herald Sun

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Fresh overseas AI concerns and weak corporate updates are causing some heavy bleeding among mining, banking, tech and health stocks. Tale of two halves for Anthony Miller’s Westpac.

Summary

The article highlights a significant market decline, with the ASX 200 experiencing a $42 billion drop amid global concerns over AI developments. It references weak corporate updates, particularly affecting sectors such as mining, banking, technology, and healthcare. The narrative includes a specific focus on Westpac's financial performance, suggesting a tale of mixed results. While the article addresses the economic impact of AI concerns, it lacks a deep dive into the safety implications or existential threats posed by AI advancements, nor does it relate to broader AI safety governance or catastrophic risk prevention.

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ASX 200’s $42bn drop on AI jitters; Westpac reverses courseFresh overseas AI concerns and weak corporate updates are causing some heavy bleeding among mining, banking, tech and health stocks. Tale of two halves for Anthony Miller’s Westpac. All your news for a great price Unlock this story and more with your subscription Full Digital Access What’s included Unlimited articles on app & web Subscriber-exclusive newsletters A digital version of Today’s paper Enjoy games & puzzles SuperCoach Plus stats & analysis while playing Pay As You Go No lock-in contract $4 for 4 weeksThen $32 charged every 4 weeks.* *Read the fine print Full Digital Access $4 charged for a duration of 4 weeks, after which it automatically renews at $32 charged every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. Each payment, once made, is non-refundable, subject to law. Not in conjunction with any other offer. New customers only. Prices after any early discounted periods may be varied as per full Terms and Conditions. See www.heraldsun.com.au/subscriptionterms for full details. 12 Month Plan Lock in and save $128 over 12 months^ $5 a week for 12 months($260 min. cost) charged as $20 every 4 weeks. Then $20 charged every 4 weeks.* ^Discount calculated in comparison to the Pay As You Go Offer on this page. *Read the fine print Full Digital Access 12 Month Plan costs $260 (min. cost) for the first 12 months, charged as $20 every 4 weeks. This automatically renews after the first 12 months to be charged as $20 (min. cost) every 4 weeks. Renewals occur unless cancelled as per full Terms and Conditions. No cancellations during the first 12 months. Each payment, once made, is non-refundable, subject to law. Not in conjunction with any other offer. Prices after the first 12 months may be varied as per full Terms and Conditions. See www.heraldsun.com.au/subscriptionterms for full details. Read every article Full app & web access 24/7 Today’s paper Read the paper online exactly as it was printed Newsletters Subscriber exclusive news emails straight to your inbox News from our network Enjoy access to 11 of our news sites (exc. The Australian) Read every article Full app & web access 24/7 Today’s paper Read the paper online exactly as it was printed Newsletters Subscriber exclusive news emails straight to your inbox News from our network Enjoy access to 11 of our news sites (exc. The Australian) Pay As You Go $4 for 4 weeksThen $32 charged every 4 weeks.* Subscribe now Other subscription options Print + Digital Subscriptions Corporate Subscriptions Your Selection: $0 Your Selection – Change selection Today’s Total $0 Read the fine print Terms and Conditions Sorry, we are unable to process your request at this time. Please try again later.