S&P/ASX 200 closes lower amid US tariff volatility, most sectors fall while miners defy trend; check top gainers and losers

Australian Share Market News: The Australian stock market closed lower on Monday, February 23, 2026, as new uncertainty over US tariff policy unsettled investors. The S&P/ASX 200 index fell 55.40 points, or 0.61%, to 9,026.00 points. The bearish trend in Australian shares has dragged most sectors into decline, except for miners, which have gained thanks to safe-haven flows, Reuters news agency reported.

Markets faced a murky outlook after the US Supreme Court struck down US President Donald Trump’s emergency tariffs, prompting him to replace them with a 10% global tax before raising the tax to 15% without clarity on timing or scope.

S&P/ASX 200: Top gainers and losers

The S&P/ASX 200 recorded significant movements on both gains and declines. According to the ASX website, the lowest performing stocks on this index were MEGAPORT LIMITED and DATA#3 LIMITED, down 17.51% and 14.40% respectively. Over the past five days, the index has gained 0.99% and is currently 1.01% below its 52-week high.

Reece Limited (REH), which is in the top five, finished with 15,880 points, an increase of 1,940, an increase of 13,916 percent. Guzman y Gomez Limited (GYG) rose 1,510 to close at 19,040, gaining 8,613 percent. Pantoro Gold Limited (PNR) closed at 5,310 with an increase of 0.420, or 8.589 percent. Ramelius Resources Limited (RMS) rose 0.370 to 4.880, up 8.204 percent. Meanwhile, Greatland Resources Limited (GGP) gained 0.830 or 6.384 percent to 13.830.

On the bearish side, Megaport Limited (MP1) closed at 7,960, down 1,690, down 17,513 percent. Data#3 Limited (DTL) lost 1,310, or 14,396 percent, falling to 7,790. Perenti Limited (PRN) fell 0.390 to end at 2.430, which equates to a decline of 13.830 percent. Austal Limited (ASB) lost 0.690, or 10.953 percent, to 5.610. Finally, Pro Medicus Limited (PME) closed at 115,300, down 11,210, representing a decline of 8,861 percent.

How did different sectors perform?

Sectors ended mixed. According to the ASX website, eight out of 11 sectors fell, along with the S&P/ASX 200 Index. Materials was the best performing sector with increases of +1.53% and +3.29% over the past five days. Strong corporate earnings pushed the index to a record high last week, while the gauge has risen 2.4% since the reporting season began Feb. 11, Reuters reported. Turning back to the gauge, financial stocks fell 1.2 percent, while the “big four” banks fell 0.6 percent to 2.3 percent.

CSL, which derives most of its revenue from the United States, fell 3.8% and its health index fell 2.4%. Technology stocks fell 4.6%, while consumer discretionary and real estate stocks lost 1.8% and 2.3%, respectively.

Miners bucked the dismal trend, rising 1.7% to a one-week high, while industry giant BHP Group rose 1.3%. Gold stocks gained 4.1% as rising volatility fueled safe-haven interest in bullion.

As reported by Reuters, MPC Markets CEO Mark Gardener said miners and gold stocks rose on safe-haven demand, extending a months-long rotation away from expensive tech and healthcare names into commodities.