ASX 200 falls as energy, miners plunge; Costa dives on CEO exit, Link drops on axed deal
ASX hits a three-month low as energy and miners plunge. Dollar hits 29-month low, New Hope leads coal losses, Costa smashed on CEO exit and health stock rally.
Welcome to the Trading Day blog for Monday, September 26. The Australian sharemarket closed at a three-month low as recession fears hammer equity markets with energy and materials the hardest hit.
The S&P/ASX 200 index fell 105.33 points, or 1.6 per cent to 6469.40 at it tests its June lows.
The weak start comes ahead of the release of retail sales numbers on Wednesday and CPI inflation data for July and August on Thursday.
Oil prices fell on fears a global slowdown could cut demand for crude. Brent was 4.8 per cent lower at $US86.15 per barrel and the US Nymex slid 5.7 per cent to $US78.74 a barrel.
On Wall Street, the Dow Jones fell 1.6 per cent to its lowest close since 2020, the S&P 500 slid 1.7 per cent and the Nasdaq Composite was 1.8 per cent lower.
US 10-year yields fell to 3.69 per cent, but US 2-year yields rose to 4.20 per cent.
The dollar was at a 29-month low of US64.92 at the close.
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Originally published as ASX 200 falls as energy, miners plunge; Costa dives on CEO exit, Link drops on axed deal
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