S&P/ASX 200 Dropped Sharply By 2.60%; Heavy Sell-Off In ASX

On 14 September 2022, at AEST 12:20 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 182.50 points or 2.60%, and is currently trading at 6,827.20 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The A-REIT and Information Technology sectors are the top 2 losing sectors, declining 4.08% and 3.88% in their index values.

Polynovo Limited (ASX: PNV) and Computershare Limited (ASX: CPU) are the top gaining stocks, gaining 1.063% and 0.204% in their stock prices. On the other hand, Clinuvel Pharmaceuticals Limited (ASX: CUV) and Megaport Limited (ASX: MP1) are the top losing stocks and are declining 11.755% and 9.206% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is declining today, tracking a brutal sell-off on Wall Street where a hotter-than-expected CPI report paved the way for more aggressive rate rises.
• U.S. Labor Department data showed on Tuesday that the headline consumer price index gained 0.1% on a monthly basis versus expectations for a 0.1% decline.
• Oil prices are falling slightly as concerns over higher-than-expected U.S. CPI inflation data offset a strong demand forecast from OPEC and signs that U.S. gasoline appetite remained robust.
• Dow has closed down 3.9%, S&P 500 down by 4.3%, and NASDAQ closed lower by 5.2%.
• Hang Seng is down by 2.38%, and FTSE 100 is down by 1.17%.

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