ASX 200 ends lower; iron ore eyes June 2022 high, gold miners soar on SVB collapse
Banks lead most sectors lower. Gold miners rally on bullion price spike. Iron ore eyes nine-month high. Goldman Sachs tips Fed to pause rates. Dollar jumps.
Welcome to the Trading Day blog for Monday, March 13. The Australian sharemarket closed lower on broad losses lead by the banks following the collapse of Silicon Valley Bank.
The S&P/ASX 200 index closed 0.5 per cent lower to 7108.80 after it fell to a nine-week low of 7071.90 earlier in the session.
The dollar was near US66.70c at the close.
More Coverage
Local stocks down for the week
A Friday rally of half a percentage point failed to retrace losses booked earlier in the week.
ASX 200 rises after RBA minutes; St Barbara tanks
Domestic shares closed higher after the release of minutes from the RBA’s last meeting for 2024, which received some support from the IMF overnight. SBM hit with PNG tax bill.