Mid-Market: S&P/ASX 200 Trading Lower; All 11 Sectors Are Trading Lower Today

On 18 March 2024, at AEDT 11:40 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 14.70 points or 0.19%, and is currently trading at 7,655.60 levels. All 11 sectors are trading lower along with the decline in the S&P/ASX 200. The A-REIT and Information Technology sectors are the top 2 declining sectors, declining 1.53% and 0.76% in their index values.

Illuka Resources Limited (ASX: ILU) and Paladin Energy Limited (ASX: PDN) are the top-gaining stocks, gaining 4.373% and 3.734% in their stock prices. On the other hand, Audinate Group Limited (ASX: AD8) and Strike Energy Limited (ASX: STX) are the top-losing stocks and are declining by 6.135% and 5.770% in their stock prices.

Factors influencing the market-

• The S&P/ASX 200 is declining today, extending a 2.2% loss last week and ahead of an important week for central banks around the globe.
• Fortescue Limited’s shares are trading lower after the iron ore spot price traded in Singapore closed below US$100 a tonne over the weekend, its lowest in more than seven months and taking the year-to-date drop to more than 26%.
• Global benchmark Brent traded above US$85 a barrel after gaining 4 per cent last week, while West Texas Intermediate was near US$81 after Ukrainian attacks on Russian refineries heightened geopolitical risks.
• The Dow has closed down by 0.49%, the S&P 500 down by 0.65%, and the NASDAQ ended lower by 0.96%.
• Hang Seng is down by 1.42%, and FTSE 100 is down by 0.20%.

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