The S&P/ASX 200 fell by more than 1% at the open but recovered somewhat through the day as US futures turned positive to close down 0.5% at 7139.50. The index hit an intraday low of 7086.80, a level not seen since May 2021. Information technology stocks led the decline.
Investors are focussed on US earnings results this week as companies including Tesla, Microsoft and Apple report and give outlooks for the next quarter.
The US Federal Reserve FOMC meeting on Wednesday is likely to push a hawkish tone on monetary policy and when the first rate rise will come, which markets expect in March.
The Aussie dollar is at US71.79c against the US dollar.
Bitcoin is at $US35,050.
Gold is at $US1837.20 an ounce.
Brent crude oil is trading around $US88.68 a barrel.
WTI crude oil is at $US86.34 a barrel.
Disclaimer: CMC Markets is an order execution-only service. The material (whether or not it states any opinions) is for general information purposes only, and does not take into account your personal circumstances or objectives. Nothing in this material is (or should be considered to be) financial, investment or other advice on which reliance should be placed. No opinion given in the material constitutes a recommendation by CMC Markets or the author that any particular investment, security, transaction or investment strategy is suitable for any specific person. The material has not been prepared in accordance with legal requirements designed to promote the independence of investment research. Although we are not specifically prevented from dealing before providing this material, we do not seek to take advantage of the material prior to its dissemination.
