ASX 200 down on broad-based falls led by miners
The ASX 200 closed down 0.7 per cent at 7420.4 after hitting a 2-day low of 7403.5. This was after rising bond yields saw the US market stall earlier. Miners led broad-based falls, but trading volume was generally light.
Welcome to the Trading Day blog for Tuesday, November 16. The ASX 200 closed down 0.7 per cent with mining weak and the trading volume below average.
The Reserve Bank says the “risks to the inflation forecast had changed”, but is “prepared to be patient” as it waits for “materially higher” wages growth before hiking rates.
Google has launched a $1bn investment project in Australia that will see the tech giant team up with the CSIRO and universities to fund projects of national interest. BHP shares are down 2 per cent and ANZ is forecasting a strong Christmas retail sales period.
Wall Street was flat on Monday amid inflation fears with Dow Jones down 0.04 per cent, while the S&P 500 and the Nasdaq Composite are also down by as much, All three indexes had opened higher.
Iron ore is 0.7 per cent lower at $US89.15 a tonne. The US Nymex crude (WTI) price is trading flat at $US80.88 a barrel.
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