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ASX Plummets Amid Oil Surge and Rate Uncertainty | Perth News
Description
Australia’s stock market plunged 1.79% today, its worst drop since early war in Iran days, fueled by soaring oil prices and a triple threat of rising bond yields, a stronger Aussie dollar, and falling consumer confidence. Despite record copper and gold prices, mining giants BHP and Rio Tinto tumbled, while banks and consumer stocks also slid. Droneshield and Woodside announced leadership changes as analysts debate whether the Reserve Bank will hike rates in September or November, adding to market uncertainty.
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