On Tuesday, the Australian sharemarket experienced a significant decline, reaching a four-week low, as risk-off sentiment swept across all sectors, resulting in the S&P/ASX 200 dropping 1.1% to 7414.8 points, its lowest level since mid-December, mirroring the decline in the All Ordinaries index. This decline was influenced by a preceding weakness in European markets due to European Central Bank official Robert Holzmann's cautious stance on potential rate cuts, while US markets were closed for a national holiday on Monday.
Futures
The Dow Jones futures are pointing to a fall of 117 points.
The S&P 500 futures are pointing to a fall of 16 points.
The Nasdaq futures are pointing to a fall of 74.75 points.
The SPI futures are down 87 points.
Best and worst performers
All sectors are in the red. The sector with the fewest losses was Communication Services, down 0.54 per cent. The worst-performing sector was Utilities, down 1.76 per cent.
The best-performing large cap was Meridian Energy (ASX:MEZ), closing 1.35 per cent higher at $5.25. It was followed by shares in Pilbara Minerals (ASX:PLS) and Brambles (ASX:BXB).
The worst-performing large cap was South32 (ASX:S32), closing 4.21 per cent lower at $3.41. It was followed by shares in Seven Group Holdings (ASX:SVW) and Evolution Mining (ASX:EVN).
Asian markets
Japan's Nikkei has lost -0.68 per cent.
Hong Kong's Hang Seng has lost -1.79 per cent.
China's Shanghai Composite has lost 0.54 per cent.
Commodities and the dollar
Gold is trading at US$2,052.50 an ounce.
Iron ore is 1.7 per cent lower at US$128.95 a tonne.
Iron ore futures are pointing to a 1.5 per cent fall.
Light crude is trading $-0.19 lower at US$72.49 a barrel.
One Australian dollar is buying 66.13 US cents.
