‘Most expensive in world history’: CBA stuns

The world’s most powerful economy, the US, has seen the value of its top 500 companies fall by almost 10 per cent in the last six months.

President Trump’s sweeping global tariffs have caused investors to smash the panic button. Now a new row between the 78-year-old and the chairman of the US Federal Reserve has added fuel to the fire.

In a sign that the world is facing great uncertainty, the price of gold has surged to record highs while stock markets around the world — from Europe to Japan — have taken a battering.

Australia is fairing reasonably well, with the ASX only falling by 3.32 per cent in the past six months. But if you look closely, there is one company doing much of the heavy lifting.

The nation’s biggest company by market capitalisation — Commonwealth Bank — has seen something truly remarkable happen to its share price.

On Tuesday, it surged to an all-time high after rocketing 4.2 per cent in one day after a massive rise 49 per cent in the past 12 months. That, remarkably, makes it now the most expensive bank stock in the history of the world.

Even seasoned investors are stunned by what is happening.

“Everyone has been scramblin...
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