S&P/ASX 200 Dropped Sharply By 1.37%; All 11 Sectors Are Trading In Red

On 07 September 2022, at AEST 01:25 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 93.70 points or 1.37%, and is currently trading at 6,732.80 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The Energy and Utilities sectors are the top 2 declining sectors, declining 2.54% and 1.96% in their index values.

Virgin Money UK Plc (ASX: VUK) and Polynovo Limited (ASX: PNV) are the top gaining stocks, gaining 4.081% and 3.461% in their stock prices. On the other hand, Chalice Mining Limited (ASX: CHN) and Viva Energy Group Limited (ASX: VEA) are the top losing stocks and are declining 11.671% and 6.805% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is declining, tracking Wall Street from the previous session as data continues to detail the strength of the US economy and its potential to cope with much higher interest rates.
• According to the Australian Bureau of Statistics data, Australia's Gross domestic product rose 0.9% in the June quarter, following a revised 0.7% in March.
• Imugene Limited's share price is gaining after the company has appointed Dr. Jakob Dupont as a Non-Executive Director.
• Oil prices fell further today, erasing all of the week's gains as concerns over sluggish crude demand outweighed what was seen as a nominal supply cut by the OPEC+.
• The 10-year US treasury yield increased 16 basis points to 3.35%.
• Dow has closed down 0.6%, S&P 500 down by 0.4%, and NASDAQ closed lower by 0.7%.
• Hang Seng is down by 1.38%, and FTSE 100 is up by 0.18%.

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