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Global markets decline amid rising oil prices and US-Iran tensions
Global stock markets faced downward pressure as geopolitical tensions in the Middle East and rising crude oil prices weighed on investor sentiment. In the United States, major indices including the Dow Jones, S&P 500, and Nasdaq closed lower. This decline was driven by the expiration of a 60-day ceasefire between the US and Iran, with Iran ruling out further negotiations and President Donald Trump issuing threats regarding military action in the region.
Rising energy costs contributed to market instability, with Brent crude passing US$90 per barrel. This surge in oil prices, combined with rising Treasury yields, has heightened concerns regarding inflation and the strength of the American consumer.
In Australia, the S&P/ASX 200 also experienced weakness, extending recent losses. The downturn was influenced by disappointing earnings from major retailers like JB Hi-Fi and challenges faced by large banks. While the materials sector saw some recovery from previous lows, consumer discretionary and technology sectors faced significant pressure.
Entities
A2 Milk · ASX 200 · Amotiv Ltd · Dimerix · Iran · JB Hi-Fi · Michele Bullock · National Australia Bank · Oman · Premier Investments Ltd · Reserve Bank of Australia · S&P 500
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [○ 1 SOURCE] Governor Michele Bullock stated that a rate cut is not being considered by the RBA.
- [● 2 SOURCES] S&P/ASX 200 Index futures indicated a 0.4 per cent drop at the Monday open. themarketonline.com.au
- [○ 1 SOURCE] Amotiv Ltd reported an underlying net profit of $120.3 million. www.fool.com.au
- [○ 1 SOURCE] Premier Investments Ltd expects full-year sales of $795.5 million. www.fool.com.au
- [○ 1 SOURCE] GPT Group reported funds from operations of $338.8 million for the six months to 30 June 2026. themarketonline.com.au
- [○ 1 SOURCE] Amotiv Ltd reported revenue growth of 2.7% to $1.02 billion. www.fool.com.au