Thanks @shovel40, @Fiji1 and morning crew.
Half-time wrap:
The share market reached the halfway mark on track for its weakest close in eight weeks following a second night of heavy selling in the US.
The ASX 200 slumped 142 points or 1.83% to 7611. A broad sell-off left no sector unscathed as investors battled a toxic mix of rising bond yields, doubts about inflation and interest rates, and fears of a full-blown war in the Middle East.
Miners and rate-sensitive property stocks and utilities were among the biggest drags as a five-month high in US treasury yields dragged Australian rates higher. The yield on 10-year Australian bonds was this morning testing this year's previous peak.
Today's plunge came in the wake of the S&P 500's largest two-day tumble in more than a year. The US benchmark dropped 1.2% overnight, adding to Friday's 1.46% dive.
Mixed Chinese economic data appeared to do little to improve spirits. While first-quarter GDP surprised to the upside, last month's factory production and retail sales were significantly weaker than economists had projected.
Personal trading: Plenty of ways to lose money this morning. I found a few. Got entries in CY5 and FND right for quick in-outs, but took PLL and INR too early. Needed two swings for a profit from W2V. Profit from MEM from yesterday. Another tiddler is dead in the water.
- Forums
- ASX - Day Trading
- Afternoon trading April 16
Afternoon trading April 16
-
- There are more pages in this discussion • 73 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)