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Australian sharemarket closes sharply lower, follows negative Wall Street lead as bond yields rise – NEWS.com.au
Australian sharemarket closes sharply lower, follows negative Wall Street lead as bond yields rise
The ASX tumbled after Wall Street slumped, as rising bond yields sparked fear across equity markets. The S&P/ASX 200 finished 2.4 per cent lower at 6673.3, while the All Ordinaries Index slumped 2.4 per cent to 6940.6.
CommSec analyst Steve Daghlian said the local bourse had a rough run, suffering its worst day in about five months with a broad sell-off across all sectors.
“It’s been a volatile few weeks for our market, which has had a bit to do with movements in the bond market globally,” Mr Daghlian…
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