Mid-Market: S&P/ASX 200 Sharply Lower; Dragged Down By Energy And Tech Sectors

On 19 April 2024, at AEST 11:20 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 78.30 points or 1.02%, and is currently trading at 7,563.80 levels. All 11 sectors are trading lower along with the decline in the S&P/ASX 200. The Energy and Information Technology sectors are the top 2 declining sectors, declining 1.77% and 1.36% in their index values.

Telix Pharmaceuticals Limited (ASX: TLX) and Resmed Inc. (ASX: RMD) are the top-gaining stocks, gaining 1.967% and 1.592% in their stock prices. On the other hand, Karoon Energy Limited (ASX: KAR) and Breville Group Limited (ASX: BRG) are the top-losing stocks and are declining by 7.208% and 3.085% in their stock prices.

Factors influencing the market-

• The Australian share market is trading sharply lower as investors demanded higher yields on bonds and bought gold on worries inflation will not extend its declines as expected.
• Karoon Energy Limited’s shares are declining today after the Brazilian oil producer lowered its guidance for total production in financial 2024.
• Oil prices held near a three-week low in the previous session as investors weighed mixed U.S. economic data, U.S. sanctions on Venezuela and Iran and easing tensions in the Middle East.
• The Dow has closed up by 0.06%, the S&P 500 down by 0.22%, and the NASDAQ ended lower by 0.58%.
• Hang Seng is up by 0.82%, and FTSE 100 is up by 0.37%.

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