ASX 200 drops to two-month low; Treasury Wine dives as revenue drops, Fortescue tumbles
Shares record their biggest one-day fall since March. Miners pulled down by iron ore woes. Revenue fall hits Treasury Wine. Dollar hits six-month low. Megaport soars.
Welcome to the Trading Day blog for Thursday, May 25. The Australian sharemarket has dropped to a two-month low in its biggest one-fall since March on broad losses led by miners and banks.
The S&P/ASX 200 index was down 1.1 per cent to 7135.90 at 2.35pm AEST, which its lowest close since the end of March.
On Wall Street, the S&P 500 closed 0.7 per cent lower, the technology-focused Nasdaq Composite index fell 0.6 per cent and the Dow Jones Industrial Average shed 0.8 per cent.
The dollar was buying US65.35c at noon.
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