Local shares plunged more than 2% again earlier today, but regained some ground later in the session.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 1.2% to 4775 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 1.1% to 4826 points
- AUD/USD at US 70.46 cents
- Iron Ore at US$45.73 a tonne, according to the Metal Bulletin
- Gold at US$1,191.53 an ounce
- Brent oil at US$31.03 a barrel
The ASX 200 fell into an official bear market today as the nation's blue-chip shares continue to drag on its performance (remember, a bear market might seem scary but it can also create plenty of opportunities for long-term investors).
Commonwealth Bank of Australia (ASX: CBA) was one of the few blue chip shares rising today after a better-than-expected earnings report. Its shares rose 1.8% but its three major competitors fell between 0.6% and 1.9%.
Unfortunately for shareholders of BHP Billiton Limited (ASX: BHP), it was back to the red for their shares as they fell 2.5%. Santos Ltd (ASX: STO) also fell 2.6% while Telstra Corporation Ltd (ASX: TLS) shares dropped 3.2%.
Meanwhile, the gold miners proved unable to hold onto yesterday's gains with Newcrest Mining Limited (ASX: NCM) and Northern Star Resources Ltd (ASX: NCM) both losing more than 3%.
Boral Limited (ASX: BLD) was one of the market's top performing shares, rising 3.5%, while Mesoblast limited (ASX: MSB) shares dropped 11.8%.
Here are Wednesday's top stories:
- Commonwealth Bank of Australia reports: What you need to know
- Goldman Sachs: Crashing markets offer opportunities
- Why Computershare Limited shares crashed on its half-year report
- Here's why the BHP Billiton Limited share price tumbled today
- 3 shares for your SMSF to grow your retirement nest egg
- Oil and gas companies are going bust at a fast rate
- 5 shares crushing the S&P/ASX 200 over the past month