Wall Street falls,Trump sends oil price warning, ASX set to lose ground
The Australian sharemarket hit a six-week low as global oil prices surged above $100 a barrel due to escalating tensions in the US-Iran conflict. Investors are increasingly concerned that rising energy costs will fuel inflation and force central banks to raise interest rates.
Why it matters
Global geopolitical instability is directly impacting financial markets and inflation expectations, affecting both stocks and bond yields.
— 5:44pm , first published September 10, 2026 — 5:27am
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Share A A A The Australian sharemarket slumped to a fresh six-week low on Thursday as crude oil traded above $US100 a barrel amid further escalation in the US war with Iran, adding to concern that inflation will accelerate and prompt higher interest rates.
Falling for its third-straight session, the S&P/ASX 200 lost 92 points, or 1 per cent, to close at 8819.40, its lowest level since late July. All 11 sectors finished in the red, with miners, banks and tech stocks leading the declines. The Australian dollar was trading at US72.16¢.
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