By Oliver Gray
Investing.com - The S&P/ASX 200 fell 72.30 points or 1% to 7,161.30 to 2-week lows during Tuesday’s deals as investors retreated from risk-sensitive assets such as technology shares while safe-haven bets such as energy and gold stocks lifted after reports that Foreign Minister Marise Payne ordered Australian diplomats to evacuate Ukraine amid the mounting threat of a Russian invasion.
Information Technology was worst affected, falling 3.2%. Appen Ltd (ASX:APX) lost 4.46%, Megaport Ltd (ASX:MP1) dipped 4.22%, Block Inc (ASX:SQ2) lost 4.33%, Novonix Ltd (ASX:NVX) fell 5.98%, Brainchip Holdings Ltd (ASX:BRN) dipped 7.72% and Xero Ltd (ASX:XRO) lost 3.13%.
Materials were down 1.05% as Rio Tinto Ltd (ASX:RIO) lost 1.41%, BHP Billiton Ltd (ASX:BHP) fell 0.89%, Fortescue Metals Group Ltd (ASX:FMG) lost 1.48%, Lake Resources NL (ASX:LKE) closed flat at 0.905, European Lithium Ltd (ASX:EUR) plummeted 19.05%, Avz Minerals Ltd (ASX:AVZ) lost 9.43%, Pilbara Minerals Ltd (ASX:PLS) fell 4.78%, Bluescope Steel Ltd (ASX:BSL) added 2.18% and Auking Mining Ltd (ASX:AKN) dipped 10.2%. Gold miners lifted as XAU/USD climbed to fresh 7-month highs, with Newcrest Mining Ltd (ASX:NCM) climbing 2.32%, Northern Star Resources Ltd (ASX:NST) adding 4.63% and Evolution Mining Ltd (ASX:EVN) up 2.84%.
Financials finished 1.48% lower, with Macquarie Group Ltd (ASX:MQG) down 1.8%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) falling 0.99%, National Australia Bank Ltd (ASX:NAB) losing 1.56%, Westpac Banking Corp (ASX:WBC) down 1.22% and Commonwealth Bank Of Australia (ASX:CBA) dropping 2.09%, while Tyro Payments Ltd (ASX:TYR) lost 10.61%, extending declines from yesterday’s session after reporting weaker than expected results.
On the bond markets, Australia 10-Year rates were at 2.196%, while United States 10-Year yields were at 1.866%.
In New Zealand, the NZX 50 was down 0.34% to 12,115.