ASX 200 drops 0.5pc to five-week low on weak consumer confidence, hawkish RBA minutes
The sharemarket fell to a five-week low amid concerns about the economic outlook. Consumer confidence has tanked and the RBA board minutes flag more rate hikes. Consumer-exposed stocks hardest hit.
Welcome to the Trading Day blog for Tuesday, May 16. ASX closed down 0.5 per cent at a five-week low as consumer confidence dives, RBA minutes flag more rate hikes and China's economic data disappoint. 'Roll back' on gas interventions possible: ACCC. New Hope facing fresh New Acland legal fight. James Hardie soars.
The S&P/ASX 200 index fell 0.5 per cent to a five-week low of 7234.7 points.
Losses broaden and extend after a slump in consumer confidence, hawkish RBA minutes and disappointing China economic activity data.
The Aussie dollar is trading around US66.93c.
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Originally published as ASX 200 drops 0.5pc to five-week low on weak consumer confidence, hawkish RBA minutes
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