Australian Shares Slump to 10-Month Low

2026-03-23 00:29 By Czyrill Jean Coloma 1 min. read

The S&P/ASX 200 fell 0.7% to close at 8,366 on Monday, hitting its lowest level since May 2025, as intensifying geopolitical tensions continued to rattle market sentiment.

Tensions in the Middle East persisted after US President Trump threatened to strike Iranian power facilities if the Strait of Hormuz remains closed, while Tehran responded with warnings that it would target key US and Israeli assets.

Domestically, investors are awaiting Wednesday’s inflation report, with headline inflation expected to hold steady at 3.8%.

The data follows the RBA’s narrowly split decision to raise the cash rate to 4.1%.

It marked a second straight hike for the first time since mid-2023 and reversing two of last year’s three cuts, as the central bank seeks to curb persistent inflation.

Mining stocks led the losses, particularly BHP Group (-1.1%) and Rio Tinto (-1.5%).

Gold producers also underperformed, led by Newmont Corporation (-7.4%), Evolution Mining (-6.9%), and Northern Star Resources (-6.3%).



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