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ASX falls for third consecutive day on fears of rate rise in US – NEWS.com.au
ASX falls for third consecutive day on fears of rate rise in US
Australias sharemarket has hit its lowest point in five weeks after US inflation figures sparked fears of a spike in interest rates. The S&P/ASX 200 index fell 62.2 points or 0.9 per cent to 6882.7 while the All Ordinaries tumbled 72.1 points or 1 per cent to 7209.
Local stocks were quick to follow sharp falls on Wall Street, with the three major US indices tumbling more than 2 per cent after the release of inflation data that pointed to a potential interest rate hike by the Federal Reserve.
The…
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