Australian shares plummeted on Friday, mirroring a sharp decline on Wall Street driven by concerns over the Federal Reserve’s monetary policy stance. At 11.40am, the S&P/ASX 200 is 1.94 per cent lower at 7,956.90, with all sectors experiencing losses, led by technology and real estate. Despite the downturn, the index is still on track for a positive week, reflecting recent strong performance.
The SPI futures are pointing to a fall of 171 points.
Best and worst performers
All sectors are in the red. The sector with the fewest losses is Utilities, down 0.8 per cent. The worst-performing sector is Energy, down 2.38 per cent.
The best-performing large cap is Fisher & Paykel Healthcare Corporation (ASX:FPH), trading 1.31 per cent higher at $30.17. It is followed by shares in ResMed (ASX:RMD) and Newmont Corporation (ASX:NEM).
The worst-performing large cap is Pilbara Minerals (ASX:PLS), trading 5.56 per cent lower at $2.89. It is followed by shares in BlueScope Steel (ASX:BSL) and JB Hi-Fi (ASX:JBH).
Commodities and the dollar
Gold is trading at US$2486.20 an ounce.
Iron ore is 1.3 per cent higher at US$102.30 a tonne.
Iron ore futures are pointing to a 1.2 per cent fall.
One Australian dollar is buying 65.06 US cents.