The ASX 200 is poised to drop 0.3 per cent after Wall Street tumbled on profit taking and growing fears that inflation may return and scuttle deep rate cuts. Follow the day's events and insights from our business reporters on the ABC News live markets blog.
S&P 500 : -1.3% to 5,871 pointsEuroStoxx : -0.7% to 497 pointsIron ore : -1.6% to $US96.70/tonneSun 17 Nov 2024 at 8:50pmProfit taking, irrational exuberance getting some rationality, fear that US inflation may not have been slayed – whatever the reason,, or in other words since the US election.volatility activist Robert Kennedy Jr was Mr Trump's pick to head the Department of Health.
Over the week, the global benchmark Brent crude slipped 4% and West Texas Intermediate crude fell 5%.Good morning and welcome to another week on the ABC markets and finance blog. Stephen Letts from ABC business team limbering up for a blow-by-blow coverage of the day's events, where every post is hopefully a winner, but none should be construed as financial advice.
In short, the ASX looks like dropping 0.3% after Wall Street's key indices had a sharp reversal of fortunes to close the week – the S&P 500 shedding 1.3% and the Nasdaq down 2.4%.
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