Thanks afternoon crew.
End-of-day summary:
Australian stocks fell heavily for a second day amid heightened volatility on regional markets as investors steeled for the possibility of a prolonged conflict in the Middle East and a surge in inflation as energy prices spike.
The ASX 200 fell 176 points or 1.94%. Today's fall was the index's largest in nearly a month. The Australian stock benchmark has fallen 300 points in the last two sessions.
Gold and uranium miners led today's retreat after a surging greenback dented US dollar-denominated commodities. Analysts said some of the selling pressure on gold came from investors selling well-performing assets to cover margin calls elsewhere as other markets tanked.
The tech sector provided a haven for much of the session before succumbing to the sinking tide. Energy has been a clear winner this week from supply disruptions in the Middle East, but today the sector gave back a little of its gains over the previous two sessions.
South Korea's Kospi stock index dived more than 11% during another torrid session in Asia. Japan's Nikkei index dropped almost 4%. The Asia Dow was off 3.8%.
Overnight, Wall Street's "fear gauge", the Vix or CBOE Volatility Index, climbed to its highest since November. US stocks slumped overnight before trimming their falls after US President Donald Trump promised protection for vessels passing through the Strait of Hormuz.
At the Australian market close, S&P 500 futures were down 0.52%.
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