By Oliver Gray
Investing.com - The S&P/ASX 200 retreated 142.5 points or 1.9% to 7438.4 on Thursday, extending losses of 0.24% in the previous session amid broad based losses as a dip in iron ore prices overnight hit mining heavyweights, while risk sentiment was further sapped on mounting concerns that the Delta coronavirus variant may derail a global economic recovery.
On the coronavirus front, Victoria reported a fresh yearly high of 324 new cases today, while New South Wales tallied a near record 1405 new cases as health authorities revealed the roadmap for easing lockdown restrictions as vaccination rates continue to surge toward the 70% threshold.
Among stocks, Rio Tinto Ltd (ASX:RIO) BHP Billiton Ltd (ASX:BHP) and Fortescue Metals Group Ltd (ASX:FMG) fell 2.48%, 1.83% and 0.39% respectively as Iron ore prices dipped to 8-month lows overnight. Banking stocks also fell, with Commonwealth Bank Of Australia (ASX:CBA) down 2.25%, National Australia Bank Ltd (ASX:NAB) falling 1.56%, Westpac Banking Corp (ASX:WBC) falling 1.72% and Australia and New Zealand Banking Group Ltd (ASX:ANZ) down 1.78%. Afterpay Touch Group Ltd (ASX:APT) also slid 3.02%.
In New Zealand, the NZX 50 lost 106.53 points or 0.81% to 13095.77.