The ASX took a belting today, wiping tens of billions of dollars from the broader market.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 1.8% to 5119 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 1.7% to 5180 points
- AUD/USD at US 70.54 cents
- Iron Ore at US$48.21 a tonne, according to the Metal Bulletin
- Gold at US$1,092.89 an ounce
- Brent oil at US$47.78 a barrel
The local stock market plunged today as a result of a fall in commodity prices, which dragged on the miners and gold producers while the banks also fell sharply.
BHP Billiton Limited (ASX: BHP) was the biggest casualty for the day. It shed 5.6% and hit a fresh seven-year low as investors continued to weigh in on the Brazilian mine disaster late last week.
Rio Tinto Limited (ASX: RIO) and South32 Ltd (ASX: S32) also lost 3.5% and 4.4% while Newcrest Mining Limited (ASX: NCM) and EVOLUTION FPO (ASX: EVN) shed 5.5% and 6.9%.
Some experts are predicting gold prices could fall even further, which would explain the heavy falls across the gold sector.
Elsewhere, Woolworths Limited (ASX: WOW) lost 2.5%, Westfield Corp Ltd (ASX: WFD) dropped 4% and Australia and New Zealand Banking Group (ASX: ANZ) fell 2.4%, making it the worst of the banks.
Here are Monday's top stories:
- BHP Billiton Limited share price crumbles on Brazil dam update
- Santos Ltd announces new CEO and $2.5 billion capital raising
- It's the end of an era for ASX blue chips, especially BHP and the banks
- Will Telstra Corporation Ltd axe Foxtel?
- Santos Ltd sets fire to shareholders' capital
- South32 Ltd slumps 2.7%: Should shareholders sell?
