ASX 200 closes 6-week low as rates, inflation worries weigh
ASX 200 slid 90 points (1.0%) to close at 8,921, its six-week low, as weakness spread across retail trade, financials and tech. Banks and retailers fell while Santos rose 1.1%.
0%, to close at 8,921 on Tuesday, marking a six-week low as weakness spread across retail trade, financials, and tech. —Canada trade tensions. Adding pressure, Reserve Bank's Assistant Governor Sarah Hunter warned cash rates may need to rise further to rein in sticky inflation. Meanwhile, fresh data showed Australia’s business mood fell to a three-month low in August, while business conditions slid to a six-year trough amid weaker sales, profitability, and employment.
Losses were cushioned by stronger August trade flows in top trading partner China, ahead of a scheduled meeting between Presidents Xi and Trump in Washington. 2%. 5%) also lagged. 1%