ASX closes after $90bn wiped from sharemarket amid spike in oil prices over Middle East crisis
Benchmark S&P/ASX 200 closes down by 2.85%, marking the single biggest one-day drop since Donald Trump’s ‘liberation day’ tariffs announcementFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAustralian shares plunged on Monday, wiping about $90bn from the value of the ASX, after a sharp rise in oil prices caused by the Middle East conflict sparked concerns of a breakout in global inflation.The benchmark S&P/ASX 200 closed down 2.85% to fall below the 8,600 point mark, marking the single biggest one-day drop since the announcement of Donald Trump’s “liberation day” tariffs last year. Continue reading…