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Katharine Murphy, Guardian Australia’s political editor here:
There needs to be an overt caveat placed on all political commentary at the moment. Given how rapidly events are changing, and given we are all enduring circumstances well outside any recent frame of reference, we can only snapshot particular moments in time.
Related: Scott Morrison had a tough message to deliver – our lives have changed. This time he got it right | Katharine Murphy
The Australian market plunged more than 6.4% on Wednesday, wiping out gains it made on Tuesday.
After a rollercoaster ride this week the benchmark ASX200 index is now back where it was in early April 2016.
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