The selloff on the Australian sharemarket intensified today, in what was a horror start to the week for investors.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 2% to 5066 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 1.9% to 5096 points
- AUD/USD at US 71.71 cents
- Iron Ore at US$57.69 a tonne, according to the Metal Bulletin
- Gold at US$1,139.59 an ounce
- Brent oil at US$47.99 a barrel
The local sharemarket experienced a heavy selloff today, although prices did recover late in the afternoon. Investors sold their stocks en masse as a result of doubt caused by the US Federal Reserve's decision to leave interest rates on hold.
The pessimism was exacerbated by a heavy slide in oil prices. BHP Billiton Limited (ASX: BHP) ended the session 2.5% lower. Liquefied Natural Gas Ltd (ASX: LNG) was down another 5.6%. Woodside Petroleum Limited (ASX: WPL) also fell 2.9%.
The nation's biggest dividend payers were also on the chopping block. Telstra Corporation Ltd (ASX: TLS) dropped 1.6%. Commonwealth Bank of Australia (ASX: CBA) was the worst of the Big Banks. It fell 2.9% while its rivals fell between 1.9% and 2.8%.
Karoon Gas Australia Limited (ASX: KAR) was the worst performing stock from the ASX 200, falling 6.8%. Premier Investments Limited (ASX: PMV) bucked the trend, ending the day 9.6% higher.
Here are Monday's biggest news stories:
- The value of your house may already be falling
- Woodside Petroleum is reportedly looking to increase its bid for Oil Search Limited (ASX: OSH)
- Woolworths Limited (ASX: WOW) is a business in transition: But is it headed up, or down?
- Why BHP Billiton's share price was hammered today
- Real estate agents are on the endangered list
- Small-cap superstar Catapult Group International Ltd (ASX: CAT) has a new competitor to contend with
