Thanks @shovel40, @Fiji1 and morning crew.
Half-time wrap:
The Australian share market skidded towards a third straight loss for the first time in almost a month after Wall Street puked at a possible delay to interest rate cuts.
The ASX 200 dropped 78 points or 1.03% to 7526 by mid-session. Gold miners, banks, REITs and tech stocks led the retreat following the Dow's worst night since March. Wesfarmers, Telstra and Woolworths attracted some haven-buying.
US stocks tanked after an unexpectedly hot January inflation report forced investors to revise expectations for the start of this year's rate-cutting cycle and the likely number of cuts. The odds on a May cut shrank to 38% from 58% before last night's data.
The Dow briefly lost more than 700 points before a late partial rebound trimmed its loss to 525 points or 1.23%. The broader S&P 500 shed 1.37% and the tech-heavy Nasdaq 1.8%.
Also rattling Australian investors was an 8% decline in first-half profit at Commonwealth Bank and a warning that "downside risks are building as slowing demand and persistent inflation impact Australian businesses." The bank's share price fell 2.39%. The rest of the big four shed between 1.31% and 1.96%.
Personal trading: Got on a couple of minnows that have done precisely nothing since the opening slump. Miss of the morning was BRN - had a buyer order half a pip too low.
- Forums
- ASX - Day Trading
- Afternoon trading February 14
Afternoon trading February 14
-
- There are more pages in this discussion • 181 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)