Thanks @shovel40, @Fiji1 and morning crew.
Half-time wrap:
The Australian market's four-week winning run looked set to end following a 600-point plunge on the Dow and declines in leading commodities as the odds on US interest rate cuts this year contracted.
The ASX 200 skidded 82 points or 1.05% by mid-session as ten of eleven sectors sold off. Consumer stocks, banks and REITs came in for particularly heavy treatment as bond yields rose in response to strong US economic data overnight. Energy stocks bucked the down-trend.
Wall Street choked as bond markets signalled they were less confident about rate cuts this year in the wake of hotter-than-expected business activity and unemployment benefit claims. All 30 component companies declined as the Dow shed 1.53%. The S&P 500 gave up 0.74% despite strong gains for AI leader Nvidia.
Personal trading: Turgid morning. Liked the look of ADR, but glad I didn't chase the open. Caught MMM at the morning low, but only a beer money fill.
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- Afternoon trading May 24
Thanks @shovel40, @Fiji1 and morning crew. Half-time wrap: The...
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