Breaking News
Get Actionable Insights with InvestingPro+: Start 7 Day FREE Trial Register here
Investing Pro 0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Australian Shares down 1.9% as Investors Track Wall Street Lower

Stock Markets May 19, 2022 11:00
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
© Reuters.

By Oliver Gray 

Investing.com - The S&P/ASX 200 fell 125 points or 1.8% to 7,057.8 after Thursday’s first hour of trade, snapping four sessions of consecutive advance as investors tracked significant declines among U.S. equities overnight, with the Dow Jones Industrial Average and S&P 500 posting their largest daily losses in nearly two years.

ASX 200 Futures were trading flat at 7,055.5.

Among stocks, Information Technology was among the hardest hit with Block Inc (ASX:SQ2) down 2.9%, Appen Ltd (ASX:APX) losing 1.5%, Megaport Ltd (ASX:MP1) down 4.4%, Link Administration Holdings Ltd (ASX:LNK) falling 1.8%, Novonix Ltd (ASX:NVX) own 6.1% and Brainchip Holdings Ltd (ASX:BRN) falling 3.8%.

Materials also suffered with Rio Tinto Ltd (ASX:RIO) down 2.6%, BHP Billiton Ltd (ASX:BHP) falling 2.2%, Fortescue Metals Group Ltd (ASX:FMG) losing 1.6%, Arizona Lithium Ltd (ASX:AZL) down 6.3% and Lake Resources NL (ASX:LKE) falling 5.3%.

Energy companies lost ground as Oil prices fell overnight. Woodside Petroleum Ltd (ASX:WPL) dipped 2.5%, Santos Ltd (ASX:STO) lost 1.1% and Beach Energy Ltd (ASX:BPT) fell 5.3%.

Consumer Staples fell 3.6% collectively with Woolworths Ltd (ASX:WOW) retreating 4.6%, Graincorp Ltd (ASX:GNC) down 3.6%, Coles Group Ltd (ASX:COL) falling 3.5% and Metcash Ltd (ASX:MTS) dipping 4.6%.

Financials retreated 1.6% overall as Macquarie Group Ltd (ASX:MQG) lost 2%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) dipped 1.4%, National Australia Bank Ltd (ASX:NAB) fell 1.4%, Westpac Banking Corp (ASX:WBC) lost 4% and Commonwealth Bank Of Australia (ASX:CBA) dipped 1.3%.

Ahead in the session, market participants will be looking towards fresh employment data, with the employment change expected to rise to 30K from 17.9K while the unemployment rate is expected to ease to 3.9% versus 4.0% in the previous month.

On the bond markets, Australia 10-Year yields were at 3.354% while United States 10-Year rates were at 2.889%.

In New Zealand, the NZX 50 fell 1.6% to 11,085.

Australian Shares down 1.9% as Investors Track Wall Street Lower
 

Related Articles

Ark's Cathie Wood Says She Was Wrong on Inflation
Ark's Cathie Wood Says She Was Wrong on Inflation By Investing.com - Jun 29, 2022

By Sam Boughedda Founder and chief executive officer of Ark Investment Management Cathie Wood said, in an interview with CNBC Tuesday, that she was wrong on inflation. Wood had...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Continue with Google
or
Sign up with Email