Mid-Market: S&P/ASX 200 Sharply Lower By 1.18%; Global Bond Yields Surge

On 03 October 2023, at AEDT 12:00 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 83.00 points or 1.18%, and is currently trading at 6,950.20 levels. Out of 11 sectors, 10 sectors are trading lower along with the S&P/ASX 200.

The Healthcare sector is the only gaining sector, gaining 0.17% in its index value. On the other hand, the Energy and Materials sectors are the top 2 losing sectors, declining 3.56% and 2.62% in their index values.

Computershare Limited (ASX: CPU) and CSL Limited (ASX: CSL) are the top-gaining stocks, gaining 1.007% and 0.909% in their stock prices. On the other hand, Weebit Nano Ltd (ASX: WBT) and West African Resources Limited (ASX: WAF) are the top-losing stocks and are declining by 3.214% and 2.585% in their stock prices.

Factors influencing the market-

• The Australian share market is trading lower after the rout in US Treasuries intensified overnight as money markets continue to recalibrate for a higher interest rate environment to bring inflation under control.
• Computershare rises after it said it was selling its US mortgage services business for US$720 million (AU$1.13 billion) to New York Stock Exchange listed asset manager Rithm Capital.
• The Dow has closed down by 0.22%, the S&P 500 up by 0.01%, and the NASDAQ ended higher by 0.67%.
• Hang Seng is up by 2.51%, and FTSE 100 is down by 1.28%.

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