Red has smothered local shares after US president realDonaldTrump renewed global uncertainty and ahead of the RBA’s rates decision.
The benchmark S&P/ASX200 index was down 1.72 per cent to 6,744.6 points at 12pm on Tuesday, while the broader All Ordinaries was down 1.67 per cent to 6,849.1 points.Consumer staple and tech shares had the largest losses by midday, falling 2.53 per cent and 2.36 per cent respectively.
The Australian volatility index, a measure of local investor sentiment sometimes called the “fear index”, surged by more than 15 per cent to its highest level since mid-October as the total value of shares trading on the ASX diminished by more than $40 billion on Tuesday.Source:AP Reserve Bank of Australia is expected to leave rates at 0.75 per cent later today. Picture: AAP Image/Mick TsikasEach sector in the Australian market lost at least 1.26 per cent, with industrials the best performing segment of the day.Mining giant BHP lost 1.36 per cent to $37.79, Rio Tinto was down 0.81 per cent to $96.73 and Fortescue Metals was down 1.35 per cent to $9.885.
Gold miners were not spared in the morning rout, with Newcrest down 2.79 per cent, Evolution down 0.50 per cent and Northern Star down 1.17 per cent.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
ASX to 'fall considerably' on back of global uncertainty | Sky News AustraliaMarket Analyst at IG Kyle Rodda expects the ASX to “fall quite considerably” on Tuesday on the back of international trade news, citing consumer confidence being “sapped out of the market”.\n\n“In terms of futures markets, we are expecting the ASX200 to fall about 1.5 per cent, Mr Rodda told Sky News. \n\nUS President Donald Trump placed tariffs on two South American countries, Argentina and Brazil, causing some uncertainty around the world.\n\nMr Rodda also anticipates the Reserve Bank of Australia will leave rates on hold ahead of its December meeting on Tuesday afternoon.\n\nImage: Getty\n
Read more »
ASX to sink as Trump threatens to impose tariffs on Brazil and Argentina metal importsAustralian shares are headed for a sharp fall after Donald Trump decides to widen his trade war by reinstating tariffs on steel and aluminium imported from Brazil and Argentina.
Read more »
As trade truce looms, China's key manufacturing sector starts to liftChina's manufacturing sector has stopped shrinking just ahead of what is expected to be a truce in the trade war with the US.
Read more »
'Ridiculous and repulsive': Leaders trade blows over terror laws as election polls tightenJeremy Corbyn and Boris Johnson have clashed over national security policy, as polls suggest the United Kingdom could be left with another hung Parliament | BevanShields
Read more »
'Ridiculous and repulsive': Leaders trade blows over terror laws as election polls tightenBoris Johnson and Jeremy Corbyn will enter the final days of the general election campaign with radically different positions on how to handle convicted terrorists.
Read more »
'Ridiculous and repulsive': Leaders trade blows over terror laws as election polls tightenBoris Johnson and Jeremy Corbyn will enter the final days of the general election campaign with radically different positions on how to handle convicted terrorists.
Read more »