%Mid-Market: S&P/ASX 200 Trading Sharply Lower; Dragged Down By Financial Stocks

On 20 December 2024, at AEDT 11:30 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 85.20 points or 1.04%, and is currently trading at 8,083.00 levels. Out of 11, 10 sectors are trading lower along with the decline in the S&P/ASX 200.

The Utilities sector is the only gaining sector, gaining 0.85% in its index value. On the other hand, Financial and Consumer Discretionary sectors are the top 2 declining sectors, declining 1.70% and 1.59% in their index values.

HMC Capital Limited (ASX: HMC) and Karoon Energy Limited (ASX: KAR) are the top-gaining stocks, gaining 3.014% and 2.845% in their stock prices. On the other hand, Bellevue Gold Limited (ASX: BGL) and EVT Limited (ASX: EVT) are the top-losing stocks and are declining by 4.701% and 3.550% in their stock prices.

Factors influencing the market-

• Australian shares sank more than 1% on Friday as markets parse the Federal Reserve’s projections of fewer-than-expected interest rate cuts and higher inflation next year.
• The Australian dollar was steady at US62.31c, off a two-year low of US61.96c hit on Thursday. It was on track for a 2% weekly loss, the biggest such decline since July.
• Oil prices fell on Thursday after central bankers in the U.S. and Europe signaled caution over further easing of monetary policy, fanning concerns that weak economic activity could dent demand for oil next year.
• The Dow has closed up by 0.04%, the S&P 500 closed down by 0.09%, and the NASDAQ ended lower by 0.12%.
• Hang Seng is down by 0.56%, and FTSE 100 is down by 1.14%.

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