By Oliver Gray
Investing.com - The S&P/ASX 200 lost 246.00 points or 3.55% to 6,686 during Tuesday’s trade, falling to fresh 15-month lows as risk sentiment soured amid growing concerns of a global slowdown while bond yields surged.
Among stocks, Energy companies led the declines, down 4.9%, with Woodside Energy Ltd (ASX: WDS ) down 5.3%, Santos Ltd (ASX: STO ) falling 5%, Beach Energy Ltd (ASX: BPT ) down 5.6% and Viva Energy Group Ltd (ASX: VEA ) dipping 3.1%.
Materials tumbled 4.4% overall as iron ore prices fell after reports of fresh COVID-19 outbreaks in China. Rio Tinto Ltd (ASX: RIO ) and BHP Billiton Ltd (ASX: BHP ) lost 4.2% apeice, while Fortescue Metals Group Ltd (ASX: FMG ) fell 8.5% and Champion Iron Ltd (ASX: CIA ) dropped 8.8%.
Information Technology plunged 4.5% as Appen Ltd (ASX: APX ) fell 0.7%, Megaport Ltd (ASX: MP1 ) lost 3.9%, Novonix Ltd (ASX: NVX ) dipped 8%, Brainchip Holdings Ltd (ASX: BRN ) fell 4% and Wisetech Global Ltd (ASX: WTC ) dropped 6%.
Financials fell 3.7% collectively, with Macquarie Group Ltd (ASX: MQG ) down 5.2%, Australia and New Zealand Banking Group Ltd (ASX: ANZ ) falling 4.6%, National Australia Bank Ltd (ASX: NAB ) down 4.3%, Westpac Banking Corp (ASX: WBC ) dropping 3.7% and Commonwealth Bank Of Australia (ASX: CBA ) falling 2.8%.
In New Zealand, the NZX 50 fell 2.6% to 10,641.4.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.