Broad-based selling has continued for a second consecutive day on the ASX as fears of a US credit default and energy shortages in China add to economic uncertainty.
Australia's share market has recorded its steepest fall since February as falling iron ore prices ruined miners and Chinese property giant Evergrande teetered on collapse.
Qantas Airways boss Alan Joyce had a pay rise to almost $2 million in the past financial year, while thousands of staff were cut due to the effect of COVID-19.
Investors have enjoyed their biggest gains on the ASX since early August despite signs unemployed Australians are giving up looking for work due to lockdowns.
Shares had a third consecutive day of gains after investors lapped up Reserve Bank governor Philip Lowe's renewed pledge that rates won't rise until 2024.