Wall Street falls as oil rises; ASX set to slip
The Australian sharemarket declined as oil prices surged following US military action against Iran. Rising energy costs and inflation concerns have led to expectations of further interest rate hikes by central banks.
Why it matters
Market volatility driven by geopolitical conflict in the Middle East directly impacts global inflation and consumer spending power.
— 5:05pm , first published September 1, 2026 — 5:15am
Save You have reached your maximum number of saved items.
Remove items from your saved list to add more.
Share A A A The Australian sharemarket fell in its first session of spring, with investors alarmed by the rising price of oil after the US launched its first military action in a month against Iran.
Global bond yields spiked to the highest level in almost two decades as the energy crunch fuelled inflation concerns and expectations for interest rate hikes.
The S&P/ASX 200 finished down 9.3 points, or 0.1 per cent, at 9066.70, tracking a downbeat session on Wall Street. Seven of its 11 industry sectors closed in the red. The dip came after the local bourse lost 0.2 per cent on Monday. The Australian dollar was trading at US71.66¢.
Get smarter about the news
Sign up free for a feed built around what you actually care about, Dive Deeper research on any story, and the full text of every article.
Create free accountAlready have an account? Sign in