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Market Wrap: ASX shudders as falls continue

The selloff continued on the ASX today, although the losses were more contained than on Tuesday.

Here’s a quick recap:

  • S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 0.6% to 5193 points
  • ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 0.6% to 5245 points
  • AUD/USD at US 72.67 cents
  • Iron Ore at US$43.89 a tonne, according to the Metal Bulletin
  • Gold at US$1,077.96 an ounce
  • Brent oil at US$46.20 a barrel

Australian shares fell for a second day on Wednesday, possibly due to increased political tensions throughout Asia in response to one of Russia’s warplanes being shot down by Turkey.

The banks were among the hardest hit, with all four majors ending the session in the red. Australia and New Zealand Banking Group (ASX: ANZ) fell the hardest, losing 1.2%.

Wesfarmers Ltd (ASX: WES) also dropped 1.3%, but Woolworths Limited (ASX: WOW) recovered to close 1.4% higher. This is likely attributable to reports from AFR Street Talk that the retail giant is in talks to sell its struggling Big W business.

Elsewhere, Telstra Corporation Ltd (ASX: TLS) and CSL Limited (ASX: CSL) closed 1.1% and 0.4% lower, respectively. Healthscope Ltd (ASX: HSO) regained 2.7%, while Santos Ltd (ASX: STO) was up 3.5%.

Ainsworth Game Technology Limited (ASX: AGI) was the worst-performing stock from the ASX 200, losing 11%. Technology One Limited (ASX: TNE), on the other hand, rose 8.2%.

Here are Wednesday’s top stories:

  1. Here’s why the Netcomm Wireless Ltd share price soared 26% today
  2. Top broker slaps $50 share price target on Sirtex Medical Limited
  3. Santos Ltd share price crash: What you need to know
  4. Are Medibank Private Ltd shares worth $2.59?
  5. Why the Lynas Corporation Limited share price is soaring
  6. Should you buy RCG Corporation Limited at this share price?

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Motley Fool contributor Ryan Newman has no position in any stocks mentioned. Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. You can follow Ryan on Twitter @ASXvalueinvest.

The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.