The Australian stock market recorded its biggest single-day drop since June 2022
The Australian stock market was not spared from selling off on Monday, with the benchmark index falling more than 3%, marking the largest single-day drop since June 2022. This is the second consecutive day of decline in the stock market ahead of Tuesday's interest rate decision by the Reserve Bank of Australia. Tech and banking stocks led the fall, with financial stocks experiencing their worst day since June 2020, after trading at record levels in previous weeks. With this month's earnings season approaching, Commonwealth Bank of Australia is about to announce its performance, which will further test the Australian market.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Data: Solana on-chain DApp total revenue exceeds $16 million in the past 7 days
Swiss precious metals giant MKS PAMP announces the relaunch of its gold token project
Trump issues "final ultimatum" to Bessent: Will consider replacing Treasury Secretary if rate cuts fail