Thanks @shovel40, @Fiji1 and morning crew.
Half-time wrap:
Aussie shares fell back from record levels after the US Federal Reserve warned rate cuts may be further off than the market originally anticipated.
The ASX 200 dropped 84 points or 1.1% from yesterday's all-time closing high. A broad sell-off lowered all sectors after the Fed's warning and weak results from Big Tech triggered Wall Street's worst night since September.
The S&P 500 dived 1.61%. The Nasdaq shed 2.23% after Fed Chair Jerome Powell said a March rate cut was unlikely. Stocks had risen strongly since November in anticipation that rates could fall this quarter.
Here, tech companies, utilities and industrial firms copped the worst of the selling. Consumer staples was the closest thing to a haven, losing a relatively modest 0.26%.
The ASX 200 flew to an all-time high yesterday after a sharp cooldown in inflationary pressures appeared to clear the way for interest rate cuts later this year.
Personal trading: Caught some of the rebound in OBL, but had to double down when initial support failed. Once again, patience would have been rewarded with a better trade. More recently added EMR at what looks like support. Modest expectations.
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- Afternoon trading February 1
Thanks @shovel40, @Fiji1 and morning crew. Half-time wrap:...
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