Global equities finished lower on Friday, pressured by escalating Middle East tensions, surging oil prices, and a renewed shift higher in rate expectations. For the week, the ASX200 fell 2.2%, the S&P 500 lost 1.9%, and the UK FTSE 3.3%.
The ASX 200 fell by more than 140 points on Thursday, with escalating concerns about the Middle East conflict weighing heavily on the market. The miners (-4.8%) were front and centre of the selling, while energy (+5.1%) was unsurprisingly best on the ground. As the oil price surged above $US110, inflation fears soared, weighing on rate-sensitive stocks, with the crowded gold sector enduring some aggressive liquidation while tech and real estate names were also heavy as futures markets priced in at least two more rate hikes before Christmas.
The ASX 200 rose another 0.3% on Wednesday, with around 70% of the index finishing higher as oil prices eased slightly and buying interest returned to the miners - RIO (+1.2%) and BHP Group (+0.7%). However, it was a relatively quiet session as investors digested this week's RBA’s split rate decision ahead of this morning’s Fed meeting, where no change was expected for a second consecutive meeting, and since the attacks on Iran, rate cuts are now not anticipated until late 2026.
The ASX200 rebounded +0.4% on Tuesday, with most of the gains enjoyed after the RBA lifted interest rates from 3.85% to 4.1% at 2.30 pm. The materials sector was back on top of the leaders board, advancing +1% as gold stocks led the bounce, while tech was back in the naughty corner, retreating another 1.25%, taking it within 4% of making fresh 2026 lows.
The ASX200 ended a choppy session on Monday down 0.4%, with miners and tech stocks leading the declines. While fewer than 40% of the main board finished higher, it was the heavyweight miners that drove most of the decline, with BHP, Northern Star and Fortescue accounting for around 60% of the day’s net fall.
The worst oil supply disruption in history shows little sign of easing, keeping crude elevated since the Iran conflict began as Trump and Iran’s new leader signal little appetite for de-escalation. Washington has allowed more sanctioned Russian crude to flow in an attempt to cap prices, but markets are increasingly concerned that Trump & Co may have bitten off more than they can chew, particularly with US mid-term elections looming in November.
The ASX 200 endured another tough session on Thursday, falling -1.3% and chalking up another triple-digit decline. Several headwinds weighed on the market, most notably oil surging more than ~9% at one stage, with the knock-on impact on bond yields dominating the headlines. A plan by the International Energy Agency to release millions of barrels from strategic reserves failed to calm markets after reports that Iran struck oil tankers near the Strait of Hormuz, escalating fears of supply disruptions through the critical shipping route that carries roughly 20% of global oil trade. Every day Brent crude pushes above US$100 chips away at confidence that the global economy can quickly move past the Iran conflict.
The ASX 200 bounced another +0.6% on Wednesday with the miners and banks dragging the market higher, even when only 45% of the main board closed in positive territory. To put things into perspective, the local bourse closed up 50-points with the miners alone contributing +42 points to the day, helped by another solid day for iron ore, and related names. Traders were offered some relief from the recent volatility spurred by the Iran war on Wednesday after the International Energy Agency (IEA) reportedly proposed the release of oil reserves. Unfortunately, the market failed to follow the heavyweight sectors higher, with weakness resurfacing in the tech and high growth stocks, more on this later with the Tech Sector, closing down 1.6%, just missing out on the wooden spoon to the Utilities sector.
The ASX200 enjoyed a +1.1% relief rally on Tuesday, which saw almost 75% of the main board close higher. The rebound was driven by improved market sentiment, following President Trump's comments on the conflict in the Middle East. His optimistic comments drove oil prices well under the psychological $100 per barrel mark, and it was $94.37 per barrel at our close yesterday. US President Donald Trump told CBS the military operation in the Middle East was "very complete, pretty much" and "very far" ahead of its initial four-to-five-week schedule. A bounce in the influential materials and financials sectors drove the gains, with those two sectors accounting for more than 80% of the day's advance.
The ASX200 was hammered on Monday, down 2.9%, taking March’s decline to ~6.5% with the month only one-third complete. It’s remarkable to think the market closed at an all-time high of 9200 just a week ago. Stocks tumbled as the Middle East conflict rattled energy markets, pushing oil up more than 25% higher, at one stage testing US$120/barrel. At the same time, bond markets extended losses on rising inflation fears while the US dollar hit its highest level since January, as risk-off sentiment gripped global markets. There was nowhere to hide on a day when ~95% of the main board retreated, and oil and gas giant Woodside (WDS) could only close 2% higher.
The ASX 200 fell by more than 140 points on Thursday, with escalating concerns about the Middle East conflict weighing heavily on the market. The miners (-4.8%) were front and centre of the selling, while energy (+5.1%) was unsurprisingly best on the ground. As the oil price surged above $US110, inflation fears soared, weighing on rate-sensitive stocks, with the crowded gold sector enduring some aggressive liquidation while tech and real estate names were also heavy as futures markets priced in at least two more rate hikes before Christmas.
The ASX 200 rose another 0.3% on Wednesday, with around 70% of the index finishing higher as oil prices eased slightly and buying interest returned to the miners - RIO (+1.2%) and BHP Group (+0.7%). However, it was a relatively quiet session as investors digested this week's RBA’s split rate decision ahead of this morning’s Fed meeting, where no change was expected for a second consecutive meeting, and since the attacks on Iran, rate cuts are now not anticipated until late 2026.
The ASX200 rebounded +0.4% on Tuesday, with most of the gains enjoyed after the RBA lifted interest rates from 3.85% to 4.1% at 2.30 pm. The materials sector was back on top of the leaders board, advancing +1% as gold stocks led the bounce, while tech was back in the naughty corner, retreating another 1.25%, taking it within 4% of making fresh 2026 lows.
The ASX200 ended a choppy session on Monday down 0.4%, with miners and tech stocks leading the declines. While fewer than 40% of the main board finished higher, it was the heavyweight miners that drove most of the decline, with BHP, Northern Star and Fortescue accounting for around 60% of the day’s net fall.
The worst oil supply disruption in history shows little sign of easing, keeping crude elevated since the Iran conflict began as Trump and Iran’s new leader signal little appetite for de-escalation. Washington has allowed more sanctioned Russian crude to flow in an attempt to cap prices, but markets are increasingly concerned that Trump & Co may have bitten off more than they can chew, particularly with US mid-term elections looming in November.
The ASX 200 endured another tough session on Thursday, falling -1.3% and chalking up another triple-digit decline. Several headwinds weighed on the market, most notably oil surging more than ~9% at one stage, with the knock-on impact on bond yields dominating the headlines. A plan by the International Energy Agency to release millions of barrels from strategic reserves failed to calm markets after reports that Iran struck oil tankers near the Strait of Hormuz, escalating fears of supply disruptions through the critical shipping route that carries roughly 20% of global oil trade. Every day Brent crude pushes above US$100 chips away at confidence that the global economy can quickly move past the Iran conflict.
The ASX 200 bounced another +0.6% on Wednesday with the miners and banks dragging the market higher, even when only 45% of the main board closed in positive territory. To put things into perspective, the local bourse closed up 50-points with the miners alone contributing +42 points to the day, helped by another solid day for iron ore, and related names. Traders were offered some relief from the recent volatility spurred by the Iran war on Wednesday after the International Energy Agency (IEA) reportedly proposed the release of oil reserves. Unfortunately, the market failed to follow the heavyweight sectors higher, with weakness resurfacing in the tech and high growth stocks, more on this later with the Tech Sector, closing down 1.6%, just missing out on the wooden spoon to the Utilities sector.
The ASX200 enjoyed a +1.1% relief rally on Tuesday, which saw almost 75% of the main board close higher. The rebound was driven by improved market sentiment, following President Trump's comments on the conflict in the Middle East. His optimistic comments drove oil prices well under the psychological $100 per barrel mark, and it was $94.37 per barrel at our close yesterday. US President Donald Trump told CBS the military operation in the Middle East was "very complete, pretty much" and "very far" ahead of its initial four-to-five-week schedule. A bounce in the influential materials and financials sectors drove the gains, with those two sectors accounting for more than 80% of the day's advance.
The ASX200 was hammered on Monday, down 2.9%, taking March’s decline to ~6.5% with the month only one-third complete. It’s remarkable to think the market closed at an all-time high of 9200 just a week ago. Stocks tumbled as the Middle East conflict rattled energy markets, pushing oil up more than 25% higher, at one stage testing US$120/barrel. At the same time, bond markets extended losses on rising inflation fears while the US dollar hit its highest level since January, as risk-off sentiment gripped global markets. There was nowhere to hide on a day when ~95% of the main board retreated, and oil and gas giant Woodside (WDS) could only close 2% higher.
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