Australian Shares Drop to Near 1-Year Low Oct 23, 202311:04...

Australian Shares Drop to Near 1-Year Low

Oct 23, 202311:04 GMT+11

XJO−0.77%
The S&P/ASX 200 Index dropped 0.9% to around 6,840 on Monday, hitting its lowest levels in nearly a year, with mining and energy stocks leading the decline amid weaker commodity prices.
Global equities also remained under pressure from concerns over higher interest rates and an escalating conflict in the Middle East. Meanwhile, investors look ahead to Australian inflation data this week for clues on the domestic economy and monetary policy.
Iron ore, gold and lithium miners posted sharp losses, including BHP Group (-2%), Rio Tinto (-1.9%), Newcrest Mining (-1.7%), Pilbara Minerals (-3.6%) and Liontown Resources (-3.7%).
Energy firms also slumped such as Woodside Energy (-1.2%), Santos (-1%) and New Hope Corp (-8.2%).