ASX 200 falls 7.3pc for month; tech, banks dumped; Carsales dives

ASX falls for a third straight week as interest rates continue to worry investors. Carsales dives amid demand fears, gold miners rally, Core Lithium $100m raising and Rex finialises takeover.

Equity investors are bracing for more seesaw sessions amid growing fears about a global slowdown. Picture: Gaye Gerard.

Welcome to the Trading Day blog for Friday, September 30. The Australian sharemarket has declined 7.3 per cent for the month after heavy selling on Friday as interest rate fears continue to weigh on investors' minds. 

The S&P/ASX 200 fell 1.2 per cent to 6474.20 to take total falls for the week to 1.5 per cent. 

On Wall Street, the S&P 500 index fell 2 per cent, tech-heavy Nasdaq dropped 2.8 per cent and the Dow Jones Industrial Average slid 1.5 per cent. All three finished at or near 2022 closing lows after the US Commerce Department confirmed the economy shrank at an annual rate of 0.6 per cent in the second quarter.

Brent crude oil was 0.9 per cent lower to $US88.49 per barrel, US Nymex WTI crude fell 1.1 per cent to $US81.23 per barrel and iron ore futures fell by 0.1 per cent to $US98.42 per tonne

The Aussie dollar is trading around US64.89c at the local close.