Economic Times S&P/ASX 200 drops sharply as Australian shares fall to 4-month low on Middle East war escalation, inflation fears and mixed labour data; check top gainers and losers
Australia's benchmark stock index, the S&P/ASX 200, closed at its lowest in nearly four months on Thursday, dropping 1.65% amid escalating Middle East tensions and mixed local labor data. Geopolitical risks fueled inflation fears and curbed risk-taking, though energy stocks surged. Miners and gold stocks were notably down.