S&P/ASX 200 drops, BHP, Rio, NAB fall, weak lead from US
ASX 200 suffers biggest one-day fall in the past four weeks, down 0.9% at the close. Oil Search boss quits. Super funds booming. Rents rising fast. Altium, Nick Scali respond to reports.
Welcome to the Trading Day blog for Monday, 19 July 2021. The ASX 200 suffered its biggest one-day fall in the past four weeks. The S&P/ASX 200 index closed down 0.9% on offshore weakness, US futures under fire and worsening domestic trends in the Covid outbreak.
The Materials, Energy, Communications, Industrials and Financials sectors led falls, with BHP down 2.6%, Oil Search down 5.2%, Seek down 3.2% after GS downgraded to Sell, Oil Search down 5.2% after its CEO resigned and NAB down 1.2%.
It follows declines in Europe and even bigger losses on Wall Street on Friday to end a recent winning streak.
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