S&P/ASX 200 Slips 2.72%; All Sectors Trading In Red Zone

On 06 May 2022, at AEST 12:27 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 188.30 points or 2.56%, and is currently trading at 7176.40 levels. All 11 sectors are trading in the red zone along with the S&P/ASX 200. The Information Technology and A-REIT sectors are the top 2 losing sectors, declining 3.92% and 3.10% in their index value.

Polynovo Limited (ASX: PNV) and Amcor PLC (ASX: AMC) are the top gaining stocks, gaining 2.89% and 0.360% in their stock prices. Virgin Money UK Plc (ASX: VUK) and Life360 Inc (ASX: 360) are the top losing stocks and are declining 10.261% and 10.110% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 fell by more than 2%, mirroring the US market's heavy fall on Thursday.
• The Reserve Bank of Australia has revised its economic forecasts, expecting CPI to hit 6% by December, from 3.25% in its February projection and core inflation to top 4.75% by year-end from 2.75%.
• The Bank of England warned on Thursday that Britain faces a double-whammy of a recession and inflation above 10%, as it raised interest rates to their highest since 2009.
• Dow has closed down by 3.1%, S&P 500 declined by 3.6%, and NASDAQ closed down by 5%.
• Hang Seng is down by 2.53%, and FTSE 100 is up by 0.13%.

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