By Oliver Gray
Investing.com - The S&P/ASX 200 dropped 215.10 points or 2.99% to 6,990.60 in Thursday’s deals, as market participants monitored an evolving crisis in Ukraine after President Vladimir Putin authorised a military operation in the Eastern European country, while poor half-year results also weighed on the index.
The Technology sector tumbled 6.4% collectively, as Appen Ltd (ASX:APX) shed 28.7% following full year results, while Novonix Ltd (ASX:NVX) lost 9.06%, Brainchip Holdings Ltd (ASX:BRN) fell 7.57%, Xero Ltd (ASX:XRO) dropped 5.47%, while Codan Ltd (ASX:CDA) dropped 7.89%. Block Inc (ASX:SQ2) fell 12.91% and Zip Co Ltd (ASX:Z1P) lost 10.34%.
Financials were 2.83% lower as Macquarie Group Ltd (ASX:MQG) fell 4.88%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) lost 3.44%, National Australia Bank Ltd (ASX:NAB) lost 2.49%, Westpac Banking Corp (ASX:WBC) dipped 2.36% and Commonwealth Bank Of Australia (ASX:CBA) dropped 2.05%.
Materials shed 4.33% overall, with Rio Tinto Ltd (ASX:RIO) down 3.77%, BHP Billiton Ltd (ASX:BHP) down 6.92% after trading ex-dividend, Fortescue Metals Group Ltd (ASX:FMG) dropping 4.18%, Champion Iron Ltd (ASX:CIA) down 6.33%, Arizona Lithium Ltd (ASX:AZL) shedding 12% and Pilbara Minerals Ltd (ASX:PLS) falling 8.07%.
Meantime, Cimic Group Ltd (ASX:CIM) surged 33.41% after Spanish construction giant Grupo ACS launched an $A1.5 billion hostile takeover bid for the remaining stake it does not already own in CIMIC.
Lovisa Holdings Ltd (ASX:LOV) also popped 11.78%, after a buoyant half-year result with profits lifting 70%.
On the bond markets, Australia 10-Year rates were lower at 2.161% while United States 10-Year rates were at 1.875%.
In new Zealand, the NZX 50 dropped 3.31% to 11,732.55.