Aussie shares fall as war dims hopes for US rate cuts
The local stock market suffered its worst loss in more than a month on fears that the conflict in the Middle East could delay US interest rate cuts even as President Donald Trump extended a ceasefire with Iran at the request of Pakistani mediators.
The benchmark S&P/ASX200 index fell 105.8 points, or 1.2 per cent, to 8,843.6 on Wednesday; This was its worst single-day loss since a 142-point drop on March 19.
More broadly, the All Ordinaries fell 102.8 points, or 1.12 percent, to 9,074.3.
The Australian dollar was trading from 71.63 US cents to 71.69 US cents at 5pm on Tuesday.
Australia’s Associated Press is the beating heart of Australian news. AAP is Australia’s only independent national news channel and has been providing accurate, reliable and fast-paced news content to the media industry, government and corporate sector for 85 years. We inform Australia.
