By Oliver Gray
Investing.com - The S&P/ASX 200 fell 133.2 points or 1.9% to 6987.5 after the first hour of Tuesday’s trade, extending losses of 1.2% in the previous session and touching the lowest levels since January amid growing concerns for global growth as central banks across the globe move ahead with aggressive tightening policies, while continued lockdowns in China also dampened risk appetite.
ASX 200 Futures were pointing 0.5% lower.
Among stocks, all sectors were trading down at least 1%. Info Tech shed 3.3% as Block Inc (ASX:SQ2) tanked 10.3%, Appen Ltd (ASX:APX) fell 3.9%, Novonix Ltd (ASX:NVX) dropped 7.6% and Brainchip Holdings Ltd (ASX:BRN) shed 12%.
Materials fell 3.2% overall as Copper and Iron ore prices retreated. Rio Tinto Ltd (ASX:RIO) lost 5.3%, BHP Billiton Ltd (ASX:BHP) dipped 3.6%, Fortescue Metals Group Ltd (ASX:FMG) lost 5% and Champion Iron Ltd (ASX:CIA) declined 4.7%.
Energy dropped 4.5% with Woodside Petroleum Ltd (ASX:WPL) down 3.7%, Santos Ltd (ASX:STO) dropping 4.1%, Beach Energy Ltd (ASX:BPT) falling 6.9% and Viva Energy Group Ltd (ASX:VEA) down 3.6%.
Financials were down 1.2% with Macquarie Group Ltd (ASX:MQG) falling 2.2%, Australia and New Zealand Banking Group Ltd (ASX:ANZ) down 1.8%, National Australia Bank Ltd (ASX:NAB) dipping 1.5% and Commonwealth Bank Of Australia (ASX:CBA) down 1.6%.
On the bond markets, Australia 10-Year rates were at 3.481% while United States 10-Year yields eased to 2.985%.
In New Zealand, the NZX 50 fell 1.9% to 11,171.