{"id":886980,"date":"2026-09-10T14:18:11","date_gmt":"2026-09-10T14:18:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/886980\/"},"modified":"2026-09-10T14:18:11","modified_gmt":"2026-09-10T14:18:11","slug":"asx200-aussies-suffer-32-billion-sharemarket-wipeout","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/886980\/","title":{"rendered":"ASX200: Aussies suffer $32 billion sharemarket wipeout"},"content":{"rendered":"

The Australian<\/a> sharemarket has plummeted after oil prices hit $US101 ($140) a barrel.<\/p>\n

About $32 billion was wiped off Australian shares on Thursday as escalating tensions in the Middle East<\/a> raised concerns about energy supplies.<\/p>\n

\"A<\/p>\n

About $32 billion was wiped off Australian shares.\u00a0Getty Images<\/p>\n

The tensions have added to expectations the US Federal Reserve<\/a> will raise interest rates to contain inflation.<\/p>\n

The ASX200 was down 1 per cent to 8819 points at the close.<\/p>\n

Resources was the hardest-hit sector, falling nearly 2.5 per cent in early trade.<\/p>\n

That\u2019s despite copper reaching a record $US14,858.50 a tonne on the London Metal Exchange this week.<\/p>\n

\u201cOil is smashing the Australian market,\u201d said Global X ETFs investment strategist Justin Lin.<\/p>\n

\u201cInvestors are being forced to confront the prospect that inflation could remain higher for longer and that the Reserve Bank of Australia may have more work to do.<\/p>\n

\u201cFor an economy already dealing with sticky inflation, another meaningful increase in energy costs is exactly what the market does not want to see.\u201d<\/p>\n

Lin said the materials sector could come under pressure as reflected in today\u2019s price action, which has been \u201cthe ASX\u2019s major bright spot over the past year\u201d.<\/p>\n

\u201cHigher metal prices have been enormously supportive for the miners, but if $US100-plus oil reignites global inflation, forces central banks to tighten further and ultimately slows economic growth, demand for industrial commodities could begin to soften materially,\u201d Lin said.<\/p>\n

\u201cThe stagflationary tail risk that lingered in the background has been brought back to the fore.\u201d<\/p>\n

BHP shares were down three per cent, while Fortescue was down 2.2 per cent and Rio Tinto sat at 3.3 per cent.<\/p>\n","protected":false},"excerpt":{"rendered":"The Australian sharemarket has plummeted after oil prices hit $US101 ($140) a barrel. About $32 billion was wiped…\n","protected":false},"author":2,"featured_media":886981,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[64,63,99],"class_list":["post-886980","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-au","tag-australia","tag-business"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/886980","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=886980"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/886980\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/886981"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=886980"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=886980"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=886980"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}