When central bank raises interest rates asset prices (i.e. equities) drop in value. The SPI drop is in response to rate rise.
For those who have not seen the excellent Ray Dalio explanation of the economic machine - cut and paste link below.
Goof Off Wednesday, page-10
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Last
8,295.1 |
Change
68.800(0.84%) |
Mkt cap ! n/a | |||
| Open | High | Low |
| 8,226.3 | 8,319.4 | 8,226.3 |
| XJO (ASX) Chart |