Oil shock hits risk appetite
Australian shares fell after reports Iran attacked two oil tankers in Iraqi waters, pushing crude prices back up and sapping confidence.
Losses spread beyond energy
The S&P/ASX200 fell 114.5 points on Thursday, down 1.31 per cent, to 8,629, wiping all but 30 points of the previous two sessions’ gains.
The broader All Ordinaries lost 125.4 points, or 1.4 per cent, to 8,851.4, taking about $42.6 billion from its combined $3.05 trillion market value.
Only the energy sector ended the session higher, as banks and miners sold off.
Rate hike chatter adds pressure
Interest rate-sensitive segments were hammered as a swathe of economists and analysts braced for a potential interest rate hike next week.
Aussie dollar slips
The Australian dollar is buying 71.24 US cents, down from 71.74 US cents on Wednesday at 5pm, as the greenback lifted on safe-haven inflows.
