Negative sentiment continues to dominate the stock market this morning with the S&P/ASX 200 slipping below the 7000 points mark for the first time in three weeks. The fall so far is 2 per cent, the worst decline since a fall of 2.3 per cent on December 3, 2019.
The ASX reached fresh highs of 7197.2 points on Thursday last week.
The Nikkei is closed today for th Emperor’s Birthday, but South Korea’s KOSPI is down 2.6 per cent. Trading will open on the Hang Seng and Shanghai markets at about 12.15pm our time.
The decline in Reliance Worldwide has extended to a fall of 27.7 per cent to $3.36, the lowest price in six months.
But the points are being taken away by falls in blue chip stocks. For example, CSL is down 2.3 per cent to $328.68, BHP is down 2.2 per cent to $37.36, Commonwealth Bank is down 1.5 per cent to $87.50, and Wesfarmers is down nearly 4 per cent, or $1.83, to $44.20. Wesfarmers went ex-dividend today by 75¢.
The most points are being added by Newcrest Mining, which is up 4.3 per cent or $1.24 to $29.97.