ASX 200 Closes 1.9% Lower as Materials and Energy Fall

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ASX 200 Closes 1.9% Lower as Materials and Energy Fall
Credit: © Reuters.

By Oliver Gray - The S&P/ASX 200 fell 144 points or 1.93% to 7,329.3 during Tuesday’s trade, extending losses of 0.7% in the previous week as risk sentiment soured as traders brace for higher interest rates from U.S. Federal Reserve policymakers.

Among stocks, Materials companies were hardest hit, finishing 4.8% lower collectively. Rio Tinto Ltd (ASX: RIO ) lost 4.1%, BHP Billiton Ltd (ASX: BHP ) fell 5.4%, Fortescue Metals Group Ltd (ASX: FMG ) lost 6.3% and Champion Iron Ltd (ASX: CIA ) dipped 8.8%.

Energy retreated 4% as Woodside Petroleum Ltd (ASX: WPL ) lost 4.8%, Santos Ltd (ASX: STO ) dipped 4.1% and Beach Energy Ltd (ASX: BPT ) shed 3.6%.

Information Technology declined 1.7% as Novonix Ltd (ASX: NVX ) dipped 5.2%, Computershare Ltd. (ASX: CPU ) lost 3.4% and Megaport Ltd (ASX: MP1 ) fell 1.6%

Financials also finished 0.8% lower overall as Macquarie Group Ltd (ASX: MQG ) lost 1.5%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) dipped 0.5%, National Australia Bank Ltd (ASX: NAB ) fell 1.4%, Westpac Banking Corp (ASX: WBC ) lost 1.2% and Commonwealth Bank Of Australia (ASX: CBA ) eased 0.4%.

On the bond markets, Australia 10-Year rates were at 3.11% while United States 10-Year yields were at 2.818%.

In New Zealand, the NZX 50 lost 0.8% to 11,813.

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