The Benchmark index on ASX sank 5.01% by the market closure on Friday 1 May 2020 and settled at 5,245.9. The sector was impacted by the decline in S&P 500 index by 0.92%, NYSE Composite Index New by 2.12% and Dow Jones by 1.17% by the market close on Thursday 30 April 2020.
Most sectors on ASX ended up in the red zone by the market closure and dropped by more than 5%.
Energy sector which was the best performing sector on 30 April 2020 was amongst the worst performing sector on 1 May 2020. The sector dropped by 6.2% and settled at 6,883. Other sectors which reported a downfall of more than 6% were Materials, Metals and Mining, Resources and Banks.
From the metal and mining sector, the shares of BHP Group Limited (ASX:BHP) dropped by ~7.76%. The shares of other players from the same sector such as Fortescue Metals Group Ltd (ASX:FMG) tumbled by 8.194% and Rio Tinto Limited (ASX:RIO) by 5.62%.
Let us look at the best and worst performing stocks for the day.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
Are you wondering if the year 2020 might not have taken the right start? Dividend stocks could be the answer to that question.
As interest rates in Australia are already at record low levels, find out which dividend stocks are viewed as the most attractive investment opportunity in the current scenario in our report.