In the recent turn of events, the ASX concluded the week on a downtrend following a decline in Wall Street amidst concerns over Federal Reserve rate adjustments, while IAG faced scrutiny due to allegations of staff underpayments.

The Australian stock market saw its third decline in four days, ending the abbreviated Easter trading week with a 1.6 percent decrease. Both Australian and major Asian markets experienced declines following a sharp drop in US stocks triggered by remarks from Federal Reserve officials hinting at potential rate cuts later this year or even in the next. In response to allegations of systemic underpayments, insurer IAG has compensated thousands of staff with a total of over $21 million in back payments. Stay updated on today’s financial developments and expert insights from our dedicated business reporters through our live blog.