ASX in $30bn wipeout after RBA rate rise; Alan Joyce sells $17m in Qantas shares
Bourse in $30bn wipeout after RBA rate rise. Qantas dives as Alan Joyce sells almost all his shares in the airline. Westpac increases loan rates. ASX Ltd sees worst day since GFC.
Welcome to the Trading Day blog for Tuesday, June 6. The Australian sharemarket more reversed gains made in its biggest one-day rise in three months on Monday after the Reserve Bank caught the market off-guard with a surprise 25 basis rate hike.
The S&P/ASX 200 fell 1.2 per cent, or 86.70 points to 7129.60. Ten of the 11 sectors close in the red with the exception of utilities.
The dollar jumped by 0.9 per cent after the RBA rate call to buy US66.75c at the close.
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