ASX 200 dives on tech; Pushpay confirms takeover bid, Johns Lyng dives on CEO selldown

A dozen stocks rally in bleak session for the ASX 200. Johns Lyng dives on CEO selldown, Pushpay gets revised takeover bid, iron ore miners gain and dollar hits April 2020 low.

Despite the Reserve Bank announcing a smaller than expected 0.25 per cent rate hike last week, concerns are mounting that inflation is yet to cool in the world’s biggest economy, the US. Picture: David Swift

Welcome to the Trading Day blog for Monday, October 10. The Australian sharemarket fell with most stocks lower as global jitters about aggressive interest rate hikes return to markets.

The S&P/ASX 200 index fell 1.4 per cent, or 94.97 points to close at 6667.80 with all sectors in the red.

Wall Street closed lower on Friday with the S&P 500 index down 2.8 per cent, the Nasdaq index fell 3.8 per cent and the Dow Jones dropped 2.1 per cent.

US 10-year bond yields are at 3.89 per cent, while two-year yields are at 4.31 per cent.

Global oil prices hit five-week highs as Brent crude rose 3.7 per cent to $US97.92 per barrel and the US Nymex lifted 4.7 per cent to $US92.64 per barrel.

Iron ore futures rose 0.2 per cent to $US95.62 per tonne.

The dollar was near US63.33c at open.

Originally published as ASX 200 dives on tech; Pushpay confirms takeover bid, Johns Lyng dives on CEO selldown