ASX 200 Dropped Sharply By 2.58%; Wiped Out Around AU$60 Billion

By the end of the trading session on 14 September 2022, the benchmark index S&P/ASX 200 ended lower by 2.58% and settled at 6,828.60. All 11 sectors closed lower along with the ASX 200. The A-REIT and Information Technology sectors were the top 2 declining sectors, declined by 4.18% and 3.15% in their index values.

Mesoblast Limited (ASX: MSB) and Tyro Payments Limited (ASX: TYR) were the top gainers, with 3.825% and 1.520% growth in share prices, respectively. On the other hand, Megaport Limited (ASX: MP1) and Pinnacle Investment Management Group Limited (ASX: PNI) were the top losers, with a 10.012% and 7.470% drop in share prices, respectively.

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Top Loser for the day:                                    

• A-REIT (Down 4.18%)
• Information Technology (Down 3.15%)

Other Factors influencing the market:

• S&P/ASX 200 declined today, tracked similar declines on Wall Street after higher-than-expected U.S. inflation data pointed to steeper interest rate hikes by the Federal Reserve.
• The U.K. consumer price index jumped 9.9% year-on-year in August, slightly below expectations for a 10% increase.
• 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 were slightly lower as concerns of another U.S. Federal Reserve interest rate hike next week after consumer prices unexpectedly rose in August, outweighing support from a robust OPEC oil demand growth forecast.
• 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 2.31%, and FTSE 100 is down by 1.17%.

Top 5 Gainers and Losers Scoreboard:

90-Day Average Volume Outlier:

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