Suncorp Group Ltd sinks S&P/ASX 200

The S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) was down 1.4% at lunchtime today, following falls in overseas markets on Friday.

What happened on Friday:

  • Dow Jones (USA) – down 1.76%
  • NASDAQ (USA): down 2.21%
  • FTSE 100 (UK): down 2.22%
  • DAX (Germany) – down 2.44%
  • EURO STOXX 50 (Europe) – down 2.04%

Compounding the negative leads from overseas markets was news out from insurance giant, Suncorp Group Ltd (ASX: SUN), who this morning revealed that due to natural hazards, profit margins would fall. The news also saw shares of fellow insurers feature prominently in today’s biggest losers.

ASX shakers:

On a day of heavy selling pressure ahead of the USA’s Federal Reserve interest rate decision on Thursday morning, there were few companies trading meaningful higher on the ASX today.

ASX movers:

Stories you need to know:

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Motley Fool writer/analyst Owen Raszkiewicz has a financial interest in G8 Education. 

Owen welcomes your feedback on Google plus (see below), LinkedIn or you can follow him on Twitter @ASXinvest.

Unless otherwise noted, the author does not have a position in any stocks mentioned by the author in the comments below. 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.

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