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ASX Plummets, Healthcare & Banks Hit Hard
Description
Australias stock market experienced a significant downturn, with the ASX two hundred and All Ordinaries indices dropping by 1.18% and 1.12% respectively. The healthcare sector was the hardest hit, with Cochlear and CSL leading the decline due to profit guidance downgrades and US Medicaid changes. The major banks also contributed to the markets fall. However, consumer staples and Treasury Wine Estates performed well, while the Australian dollar strengthened. Oil prices eased amid US-Iran ceasefire talks, but analysts remain optimistic about a deal to stabilize energy supplies.
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This is an automated, high-level news summary based on public reporting.
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