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6th May 10:57 AM AEST
ASX 200 tanks 2% amid bloodbath on Wall Street
The Australian share market slid at the open on Friday, as Wall Street witnessed a bloodbath on Thursday with the sharp declines in global equites as market participants fretted over aggressive central bank policies across the globe to put a leash on soaring inflation. The benchmark ASX 200 took a hit of 2.02% or 148.5 points to 7,216.2 in the first 15 minutes of trading, while the ASX All Ordinaries index was down 2.13% to 7,476.4. The A-VIX shot up by 13.56% to 16.58.
Wall Street sharply ended lower on Thursday with the Dow Jones Industrial Average falling 3.12% or losing over 1,063 points to 32,997.98, while the S&P 500 lost 3.56% to end at 4,146.86 points. The NASDAQ Composite took the worst hit, shedding 4.99% to 12,317.69.
Coming to the top ASX 200 laggards, the intense selling pressure can be gauged by the fact that only 4 stocks in the entire ASX 200 index were trading in the green in early trade. Event Hospitality and Entertainment Limited (ASX:EVT) was the top gainer, surging 1.73% to AU$14.68, while Paladin Energy shares tanked 8.48% to AU$0.755 to become the top loser.
On the sectoral front, all 11 sectors were in the red at the opening tick, with the materials sector losing the most, over 1.1%.
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6th May 09:50 AM AEST
ASX 200 to fall after Wall Street's sell off
The Australian share market is expected to end the week in the red following a weak overnight closing on Wall Street. Investors were concerned that aggressive central bank policies around the world to curb rising inflation may restrain growth.
According to the latest SPI futures, the ASX 200 is likely to open 109 points or 1.5% lower. On Thursday,
benchmark index rose 0.8% to 7,364.7 points.Meanwhile, Macquarie Group Ltd (ASX:MQG) is among the ASX-listed companies slated to release its full-year results today.
On Wall Street, the Dow Jones fell 3.1%, the S&P 500 dropped 3.56%, and the NASDAQ ended 5% lower. Dow Jones fell more than 1000 points overnight. Similarly, NASDAQ’s 5% fall was its biggest single-day plunge since June 2020
In Europe, the Stoxx 50 fell 0.8%, the FTSE rose 0.1%, the CAC dipped 0.4%, and the DAX ended 0.5% lower.