Market snapshot
- ASX 200 futures: -0.3%
- Australian dollar: flat at 63.70 US cents
- Wall Street: Dow -1.7% S&P -2.2% Nasdaq -3.1%
- Europe: Stoxx600 -0.2% DAX +0.3%
- Spot gold: +3.6% to $US3,357/ounce
- Brent crude: +2% to $US65.99/barrel
- Iron ore: -0.7% at $US98.05/tonne
- Bitcoin: +0.7% to $US84,647
Prices current around 7:30am AEST.
Live updates on the major ASX indices:
Market insiders buckle up for further financial turmoil
Good morning!
We’ve had more losses on Wall Street overnight, led by chip maker Nvidia which has put out a market update.
The manufacturer of chips says it will take a hit of $US5.5 billion tied to exporting processing units to China and other destinations. The reaction by investors dragged down the tech-heavy Nasdaq on Wall Street.
Meanwhile, the chair of the US Federal Reserve has made comments about US President Donald Trump’s tariffs during a Q&A where he indicated this would delay the central banks goals. Markets has taken this to mean rates higher for longer.
We’ll bring you an update soon. For now, here’s a piece from Ian Verrender about the market turmoil.
