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Commonwealth Bank of Australia

5 Key Reasons Behind Australia's Biggest Bank Sell-Off: CBA Shares Crash 10% in $25 Billion Wipeout

SYDNEY — Commonwealth Bank of Australia shares plunged more than 10 percent on Wednesday, closing at $153.67 and erasing roughly $25 billion in market value in one of the most dramatic single-day drops in recent ASX history. The sell-off followed a quarterly trading update that fell short of elevated expectations and fresh concerns over the federal budget's property tax changes, highlighting vulnerabilities in Australia's largest lender amid a challenging economic and policy backdrop.
Commonwealth Bank of Australia

CBA Plunges 10.4% in Record $25 Billion Wipeout as Bad Debts and Budget Tax Changes Hammer ASX Banks

SYDNEY — Commonwealth Bank of Australia shares crashed more than 10 percent Wednesday, closing at $153.67 after shedding $17.90 in one of the largest single-day value losses in Australian corporate history, wiping out roughly $25 billion in market capitalization as investors reacted harshly to disappointing quarterly results and looming pressure from federal budget tax reforms.

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