ASX 200 closes down 0.3% after GDP fall; Nuix hits low

The ASX 200 closed down 0.3% after GDP dropped 1.9 per cent during lockdowns. Strong day for iron ore miners, CBA completes Colonial First State sale, ANZ faces class action, Nuix hits new low.

Investors are watching closely at what impact the Omicron strain of Covid-19 could impact the global economic recovery. Picture: NCA Newswire /Gaye Gerard

Welcome to the Trading Day blog for Wednesday, December 1. ASX 200 closed down 0.3 per cent as Omicron cases rise.  The market recovered from its sharp earlier falls after the release of better than expected GDP data.

The S&P/ASX 200 closed 0.3 per cent lower at 7235.9.

The Dow Jones Industrial Average closed 1.9 per cent lower, the S&P 500 down by 1.9 per cent and the tech-heavy Nasdaq dropped by 1.6 per cent.

Iron ore traded 0.2 per cent higher yesterday to $US100.10 a tonne. The US Nymex crude price plunged 5.4 per cent to $US66.18 a barrel.