The native share market has slid into detrimental territory for the 12 months, having given up all its good points from January’s monster rally.
At 10.21am on Tuesday, the benchmark S&P/ASX200 index had fallen 113.8 factors, or 1.6 per cent, to six,995, whereas the All Ordinaries was down 118.6 factors, or 1.62 per cent, to 7,193.8.
“It’s pretty brutal out there,” Ausbiz TV anchor Nadine Blayney mentioned on air.
The ASX200 was at its lowest degree since a January 3 selloff. For the 12 months, it was down 53.5 factors, or 0.76 per cent, regardless of its 6.2 per cent rally in January.
The index was additionally buying and selling under its 200-day shifting common, a key technical degree.
Every sector was the the pink in early buying and selling, with power the largest loser, down three per cent.
The monetary sector had fallen 2.5 per cent following the collapse of Silicon Valley Bank within the United States, with ANZ down 2.4 per cent and NAB down 2.6 per cent.
Source: www.perthnow.com.au
