Business
As it happened: ASX closes 0.8% lower, Fortescue to three-month low – The Sydney Morning Herald
The S&P/ASX 200 opened higher but was dragged down by the materials sector. It closed at a session-low of 6714, down 0.8%.
The S&P/ASX200 is down 0.3 per cent currently at 6753 points.
The materials sector continues to drag with a 1.7 per cent fall, followed by a 2 per cent drop in energy. Among materials Fortescue is down 6.4 per cent to a three-month low of $20.76, Rio Tinto is down 4 per cent to $116.31, and BHP is down 2.5 per cent to $47.76.
Tom Armstrong from the Australian Stock Report said the major miners have turned a positive session negative.
We started out quite strongly following on the lead from the…
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