Trading Day: ASX falls despite US gains, CSL drags after downgrade

Stocks slid in early trade even after Wall Street extended its rally. Bitcoin fell below $US30,000 for first time in over five months. Costa raises for citrus buy.

ASX moves follow Tuesday’s big rise on the local market, which enjoyed its best day in four months. Picture: Jeremy Piper

Welcome to the Trading Day blog for Wednesday, June 23. Australian stocks fell in early trade even after Wall Street extended its rally. Bitcoin fell below $US30,000 for first time in over five months. Costa raises for citrus buy. Earlier, Fed chief Jerome Powell played down the inflation threat.

On Wall Street the S&P 500 rose 0.5 per cent, the Nasdaq added 0.8 per cent to close at a new record, while the Dow ended 0.2 per cent higher. Bitcoin fell below $US30,000 for the first time in five months, and oil prices hit new two-year highs on demand optimism. Locally, RBA assistant governor Luci Ellis addresses a business lunch.