ASX 200 falls 0.8% amid broad losses; PolyNovo surges 25.2% on US growth

ASX closes lower, led by falls among consumer staples. Inghams down 6 per cent on profit warning, PolyNovo soars 25.2 per cent on US growth and power outage affecting London Metal Exchange. 

Markets are starting to price an early US rate hike. Picture: Jeremy Piper.

Welcome to the Trading Day blog for Tuesday, January 11. ASX closes lower; led by falls among consumer staples sector as investors gauge the economic impact of Omicron.

The S&P/ASX 200 closed down by 0.8 per cent to 7390.1, while the All Ordinaries declined 0.7 per cent to 7710.7.

The Dow Jones Industrial Average closed down by 0.5 per cent on Monday while the S&P 500 slid 0.1 per cent, paring earlier losses as investors bought on the dip. The tech-heavy Nasdaq finished up 0.1 per cent after being down more than 2 per cent earlier.

Iron ore fell by $US1.85 or 1.5 per cent to $US125.45 a tonne while the US Nymex crude price slid 0.5 per cent to $US78.50 a barrel.