Australian shares drop to one-month low ahead of GDP data
Australian shares fell to a one-month low. The S&P/ASX 200 was down 1.3% at 8,952.30, pressured by miners and gold stocks; surging oil prices heightened inflation concerns and expectations of rate hikes ahead of the GDP print.
Australian shares fell to a one-month low on Wednesday, dragged down by miners and gold stocks, while surging oil prices fuelled inflation concerns and expectations of rate hikes ahead of a key economic output print due later in the day.The S&P/ASX 200 index ASX:XJO was down 1.3% at 8,952.30 points…