ASX 200 ends the week down 2.1pc; energy, gold miners lead losses; NAB tips 50bp rate hike

Total losses for the ASX 200 hit 5 per cent as the RBA boss says the cash rate is 'still too low'. Markets firm on 50bp rate hike, gold miners tumble and Atlas dives after raising.

Australian investors have suffered a rough week on the back of Wall Street losses driven by fears of ongoing high inflation. Picture: Gaye Gerard.

Welcome to the Trading Day blog for Friday, September 16. The Australian sharemarket suffered broad losses following RBA Governor Philip Lowe declaring that the current cash rate is "still too low" at a testimony to parliament. 

The S&P/ASX 200 index fell 1.4 per cent, or 95.89 points to 6747.00. The bourse is down 5 per cent for the month after a 2.1 per cent drop this week.

Wall Street closed lower with the S&P 500 index down 1.1 per cent to 3901 points while the Nasdaq index fell 1.4 per cent to 11,552 and the Dow Jones Industrial Average index was 0.5 per cent lower to 30,961 points.

US 10-year bond yields rose to 3.45 per cent, while two-year yields are higher at 3.88 per cent.

Oil prices are lower with global benchmark Brent crude falling 3.5 per cent to $U90.84 per barrel and the US Nymex is down 3.8 per cent to $US85.10 per barrel.

Iron ore futures rose 0.1 per cent to $US100.58 per tonne.

The Aussie dollar was near US67.01c at the US market close.

Originally published as ASX 200 ends the week down 2.1pc; energy, gold miners lead losses; NAB tips 50bp rate hike