The local share market took a belting today with the banks and miners all falling sharply.
Here's a quick recap:
- S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) down 2.1% to 4875 points
- ALL ORDINARIES (Index: ^AXAO) (ASX: XAO) down 1.9% to 4934 points
- AUD/USD at US 71.83 cents
- Iron Ore at US$51.60 a tonne, according to the Metal Bulletin
- Gold at US$1,228.11 an ounce
- Brent oil at US$32.87 a barrel
Most shares on the ASX finished in the red today, sparked by a sharp fall in the price of oil, after Saudi Arabia said it would not cut back on its production.
BHP Billiton Limited (ASX: BHP) led the rout, crashing 8.2%, while Origin Energy Ltd (ASX: ORG) and Santos Ltd (ASX: STO) also shed 5.8% and 6.6%.
BHP's fellow iron ore miners took a belting as well. Fortescue Metals Group Limited (ASX: FMG) fell 4.8%, Rio Tinto Limited (ASX: RIO) was down 5.8% and diversified miner South32 Ltd (ASX: S32) ended the day 5.8% lower.
There wasn't much support for the nation's other blue chips, either. All four of the major banks experienced falls of at least 2.7%, with National Australia Bank Ltd. (ASX: NAB) and Westpac Banking Corp (ASX: WBC) falling the most. They were down 3.8% and 3.9%, respectively.
Worleyparsons Limited (ASX: WOR) was one of the worst performers for the day, losing 13.1%, while Mesoblast limited (ASX: MSB) was again one of the top performers, rising 12.4%.
Here are Wednesday's top stories:
- Why the BHP Billiton Limited share price was hammered today
- Wesfarmers Ltd's share price falls on resources crash
- More problems for Slater & Gordon Limited as shares suspended from trade
- CRASH: Lifehealthcare share price plunges 37%
- Fortescue Metals Group Limited posts US$319 million profit: Is it a buy?
- Why Qantas Airways Limited & Caltex Australia Limited are wrong to announce share buybacks