AUS
NZ
UK
CA
USA
FRA
GER
ESP
ITA
NLD
PRT
SWE
GRC
IND
POL
BRA
ZAF
RUS
CHN
UAE
Highlights
- ASX 200 declines 0.6% as all sectors trade lower.
- Mineral Resources (ASX:MIN) drops nearly 12% following haulage suspension.
- Gold hits a record high above $3,030 as investors turn to safe-haven assets.
The Australian share market opened lower, breaking a three-day winning streak as global risk sentiment shifted. The S&P/ASX 200 fell 0.6%, shedding 48.9 points to trade at 7,811.5. The All Ordinaries also declined by 0.6%, with all 11 sectors in negative territory.
Wall Street Turbulence Weighs on Local Markets
Overnight, US equity markets saw heightened volatility, with technology stocks facing significant pressure. The NYSE Fang+ Index, which tracks the performance of major US tech giants, slid 2.2%, with Tesla leading declines, dropping 5.3%. The VIX index, often referred to as Wall Street’s “fear gauge,” spiked 5.8%, signaling growing investor uncertainty.
Meanwhile, gold surged past $3,030, reaching an all-time high as investors moved towards safer assets amid ongoing economic concerns. Fears surrounding global trade tensions, particularly the impact of US tariff policies, have added to market instability.
Technology and Banking Stocks Slide
Following Wall Street's lead, Australian technology stocks opened lower. NextDC (ASX:NXT) lost 2.7%, while WiseTech (ASX:WTC) declined 1% after an internal board review revealed further details on executive chairman Richard White’s conduct.
Major financial stocks also struggled, with Commonwealth Bank (ASX:CBA) dipping 0.9% and ANZ Group (ASX:ANZ) falling 1%. Property investment giant Goodman Group (ASX:GMG) also faced losses, dropping 2%.
MinRes Plunges on Haulage Halt
The biggest drag on the index came from Mineral Resources (ASX:MIN), which slumped 11.9% after suspending haulage operations on its Onslow iron haul road due to a sixth jumbo road train crash. The disruption raises concerns about potential project delays and cost impacts.
Other Stocks in Focus
Retailer Myer (ASX:MYR) slipped 3.3% after reporting flat sales for the first half of the 2025 financial year. The company’s profits were hit by a 40% decline due to strategic review costs and impairments.
Gold miner Capricorn Metals (ASX:CMM) fell 4.8%, despite closing its remaining 55,000 ounces of gold hedge contracts, as it aims to capitalize on record-high bullion prices.
Mining stock Ora Banda Mining (ASX:OBM) lost 3.3% after a major shareholder trimmed its 31.4% stake.
Meanwhile, Dicker Data (ASX:DDR) slipped 1% after CEO David Dicker sold a 4.6% stake—over 8 million shares—to settle a personal legal matter.
With investor caution rising, market participants will be closely monitoring economic signals and corporate updates in the coming days.
