Bearish
ASX 200 drops 1% to 8,920.80 amid rate hike fears and oil price surge.
The S&P/ASX 200 index declined by 1% to 8,920.80 points, marking its lowest close since July 28. This downturn was driven by concerns over potential interest rate hikes by the Reserve Bank of Australia (RBA) and a significant rise in oil prices due to supply fears.
Key points
- The ASX 200 fell 1% to 8,920.80, its lowest since July 28.
- Brent crude oil prices approached US$97 amid Iran supply concerns.
- The RBA signaled potential rate hikes, with a 67% chance of an increase this month.
- Core Lithium restarted its Finniss plant, boosting several lithium stocks.
Sources
AI-generated from public news sources. Not financial advice.
