The S&P/ASX 200 fell 2.3 per cent to 7144.7 as a US bank sell-off sparked by concerns over the solvency of Silicon Valley Bank (SVB) spilled across local banks.
Australian shares plunged 2.3 per cent on Friday as a sell-off in US bank stocks sparked by concerns over the solvency of Silicon Valley Bank spilled across local banks, with Commonwealth Bank of Australia shares down 3.3 per cent, National Bank of Australia off 3 per cent and Westpac losing 2.6 per cent.P/ASX 200 fell 166.4 points to 7144.7 as the materials, energy, and financials sectors all tumbled.ANZ shares fell 2.6 per cent to $23.
Bendigo Bank said it will change the pricing of its home loan and saving products following the Reserve Bank of Australia’s decision to lift the cash rate by 0.25 percentage points on Tuesday.The materials sector fell on a retreat in oil, iron ore and lithium prices. BHP Group is down 3.4 per cent to $45.01 per share. Rio Tinto fell 3.3 per cent $117.28 per share.Lithium producer Mineral Resources retreated 6.2 per cent to $83.50 per share. Pilbara Minerals also tumbled 7 per cent to $3.
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