ASX 200 tumbles as AEMO suspends electricity market; bond yields surge
ASX tumbles for a fourth straight session as AEMO call weighs on investors. Crown exits ASX bond yields skyrocket, Humm sale heats up and Fortescue to buy 200 green trucks.
Welcome to the Trading Day blog for Wednesday, June 15. The Australian share market tumbles for a fourth straight session as the AEMO suspends the electricity market.
The S&P/ASX 200 index fell 1.3 per cent or 85 points to 6601.00 with all sectors lower. It comes after the local ASX 200 index marked its worst result since May 2020, sinking 3.6 per cent.
In the US, the S&P 500 extended further into bear market territory, closing down 0.4 per cent. Dow Jones was 0.5 per cent weaker and the tech-driven Nasdaq index 0.2 per cent higher amid fears that red-hot inflation will prompt more aggressive rate increases from the Federal Reserve, which is expected to hike rates by a larger-than-expected 0.75 percentage points this week.
Oil prices fell with the Brent crude down 0.9 per cent to $US121.17 a barrel while the US Nymex was 1.7 per cent weaker at $US118.93 a barrel.
The iron ore futures price is 0.9 per cent off at $US138.26 a tonne.
The Aussie dollar was lower at US68.7c at the US close.
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Originally published as ASX 200 tumbles as AEMO suspends electricity market; bond yields surge
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