S&P/ASX 200 Trading Lower By 1.06%; All 11 Sectors Are Trading In Red Zone

On 16 September 2022, at AEST 11:50 AM, the benchmark index S&P/ASX 200 is trading lower today, declining 72.30 points or 1.06%, and is currently trading at 6,770.60 levels. All 11 sectors are trading lower along with the S&P/ASX 200. The Energy and Industrials sectors are the top 2 losing sectors, declining 2.41% and 1.66% in their index values.

Reliance Worldwide Corporation Limited (ASX: RWC) and Tabcorp Holdings Limited (ASX: TAH) are the top gaining stocks, gaining 4.456% and 3.191% in their stock prices. On the other hand, Atlas Arteria (ASX: ALX) and De Grey Mining Limited (ASX: DEG) are the top losing stocks and are declining 15.365% and 7.763% in their stock prices.

Factors influencing the market-

• S&P/ASX 200 is declining today, mirroring weakness in New York as investors continue to position for higher for longer interest rates and the prospect of further significantly slower growth.
• Atlas Arteria’s share price is falling more than 15% after it has completed the institutional component of its entitlement offer, which will be used to fund the acquisition of a 66.67% majority interest in Skyway Concession.
• Oil prices are heading towards third weekly losses as a worsening global economic backdrop stoked demand concerns, and a buoyant dollar made crude more expensive for most buyers.
• Dow has closed down 0.6%, S&P 500 down by 1.1 %, and NASDAQ closed lower by 1.4%.
• Hang Seng is down by 0.93%, and FTSE 100 is up by 0.07%.

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