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ASX 200 Closes 1.9% Lower as Materials and Energy Fall

Published 26/04/2022, 03:50 pm
Updated 26/04/2022, 03:55 pm
© Reuters.

© Reuters.

By Oliver Gray 

Investing.com - The S&P/ASX 200 fell 144 points or 1.93% to 7,329.3 during Tuesday’s trade, extending losses of 0.7% in the previous week as risk sentiment soured as traders brace for higher interest rates from U.S. Federal Reserve policymakers.

Among stocks, Materials companies were hardest hit, finishing 4.8% lower collectively. Rio Tinto Ltd (ASX:RIO) lost 4.1%, BHP Billiton Ltd (ASX:BHP) fell 5.4%, Fortescue Metals Group Ltd (ASX:FMG) lost 6.3% and Champion Iron Ltd (ASX:CIA) dipped 8.8%.

Energy retreated 4% as Woodside Petroleum Ltd (ASX:WPL) lost 4.8%, Santos Ltd (ASX:STO) dipped 4.1% and Beach Energy Ltd (ASX:BPT) shed 3.6%.

Information Technology declined 1.7% as Novonix Ltd (ASX:NVX) dipped 5.2%, Computershare Ltd. (ASX:CPU) lost 3.4% and Megaport Ltd (ASX:MP1) fell 1.6%

Financials also finished 0.8% lower overall as Macquarie Group Ltd (ASX:MQG) lost 1.5%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) dipped 0.5%, National Australia Bank Ltd (ASX:NAB) fell 1.4%, Westpac Banking Corp (ASX:WBC) lost 1.2% and Commonwealth Bank Of Australia (ASX:CBA) eased 0.4%.

On the bond markets, Australia 10-Year rates were at 3.11% while United States 10-Year yields were at 2.818%.

In New Zealand, the NZX 50 lost 0.8% to 11,813.

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