S&P/ASX 200 Trading Lower By 2.11%; Renewed Global Sell-Off

On 17 June 2022, at AEST 12:03 PM, the benchmark index S&P/ASX 200 is trading lower today, declining 139.00 points or 2.11%, and is currently trading at 6,452.10 levels. All sectors are trading lower along with the S&P/ASX 200. The Information Technology and Materials sectors are the top 2 losing sectors, declining 3.78% and 2.92% in their index values.

Ramelius Resources Limited (ASX: RMS) and Evolution Mining Limited (ASX: EVN) are the top gaining stocks, gaining 4.386% and 4.285% in their stock prices. On the other hand, G.U.D. Holdings Limited (ASX: GUD) and Allkem Limited (ASX: AKE) are the top losing stocks and are declining 21.332% and 6.713% in their stock prices.

Factors influencing the market-

• Australian shares are falling, driven by weak Wall Street performance in the previous session. Ther rising interest rates in the US, the UK, and Switzerland in the last 24 hours stoked recession worries.
• Oil prices are slightly lower as worries about global economic growth and uncertainty weighed on markets after numerous interest rate hikes around the world this week, which is causing the energy sector to fall.
• The materials sector is sliding sharply after Iron ore fell for its sixth straight session amid a weak economic backdrop in China and as outbreaks in some of its key cities remain a drag on demand.
• G.U.D. Holdings’ share price is falling after the company has announced a trading update and lowered its FY22 Underlying EBITA of AU$147 million, which was previously between AU$155 million and AU$160 million.
• Dow has closed down by 2.4%, S&P 500 down by 3.3%, and NASDAQ closed lower by 4.1%.
• Hang Seng is up by 0.55%, and FTSE 100 is down by 3.44%.

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