S&P/ASX 200 Trading Lower By 0.82%; All Sectors Are Trading In Red Zone

On 22 August 2022, at AEST 12:05 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 58.20 points or 0.82%, and is currently trading at 7,056.30 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The Consumer Discretionary and Information Technology sectors are the top 2 losing sectors, declining 1.75% and 1.57% in their index values.

EML Payments Limited (ASX: EML) and NIB Holdings Limited (ASX: NHF) are the top gaining stocks, gaining 10.141% and 5.639% in their stock prices. On the other hand, Adbri Limited (ASX: ABC) and Magellan Financial Group Limited (ASX: MFG) are the top losing stocks and are declining 17.858% and 10.118% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 dropped sharply, mirroring the U.S. market in the previous session, snapping a four-week rising streak, and Goldman Sachs’s equity strategist David Kostin said he’s somewhat wary of what lies ahead.
• Adbri Limited’s share price declined 16.17% to $2.23 after reporting a fall in profit and dividends in the half year to June.
• China cut its benchmark lending rates today, adding to easing measures announced last week, as Beijing steps up efforts to spur credit demand in an economy affected by a property crisis and a resurgence of COVID infections.
• Oil prices are falling today, ending three days of gains, on fears aggressive U.S. interest rate hikes may lead to a global economic slowdown and dent fuel demand.
• Dow has closed down 0.9%, S&P 500 down by 1.3%, and NASDAQ closed lower by 2.0%.
• Hang Seng is down 0.97%, and FTSE 100 is up by 0.11%.

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