Monday 9th March – ASX 200 drops 252 – Off lows – Oil soars – Asian markets slump. Europe Next – Dow futures down 886

09 Monday Mar 2026

Posted by in Daily Reports

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The ASX 200 cratered another 252 points to 8599 (2.9%), as buyers stepped in as the afternoon wore on. Well off lows, but unconvincing. Oil prices in Asia soared with regional markets falling hard. Across the board losses led by BHP down 5.1% and RIO off 3.8%. Gold miners sold down despite bullion holding up relatively well. NST down 6.2% and EVN off 5.9% with WGX falling 5.7%. Lithium stocks under siege, PLS down 6.7% and MIN off 1.6%. Copper stocks walloped, SFR down 8.2% and other base metal stocks falling. BSL dropped 4.4%. Oil and gas stocks better but not racing away. WDS up 2.0% and STO up 2.4% with coal stocks a little firmer. Uranium stocks dropped, PDN down 7.9% and BOE falling 6.5%. Banks were hit too but off lows, ANZ dropped 2.3% with CBA down 1.8% and the Big Bank Basket falling to $292.41 (-1.8%). MQG fell 2.4% with insurers and other financials easier. XYZ fell 4.5% and HUB down 5.4%.  REITs fell, GMG off 2.0% and SCG down 3.6%. Industrials were also hit in the Monday flush. BXB down 4.8%, QAN fell 4.5% on higher jet fuel prices, TLS eased 1.3% and healthcare stocks dropped. CSL down 2.8% and RMD off 3.2%. Tech stocks back under pressure again, XRO down 4.8% and TNE off 3.7%. The All-Tech Index fell 3.7%.

In corporate news, DNL fell 9.7% on the sale of its fertiliser business. DGT fell 7.4% as its CEO stepped back for a time. PME fell 0.9% despite a renewal of a $40m contract. NAN gained 3.8% on FDA clearance for an expanded range of indications.

In economic news, nothing on the local front.

10-year yields jumped to 4.95%.

Asian market flushed, Japan down 6.8%, HK down 2.6% and China down 1.7%. Korea KOSPI down 8.8%

US Futures down DJ down 1000 Nasdaq down 566.

HIGHLIGHTS

  • Winners: YAL, KAR, CRN, ELS, WHC, NAN, DDR
  • Losers: DTR, TVN, CXO, EQR, LOT, AYA
  • Positive Sectors: Oil and gas. Coal.
  • Negative Sectors: Everything else.
  • ASX 200 Hi 8619 Lo 8457
  • Big Bank Basket: Falls to $292.41 (-1.9%)
  • All-Tech Index: down 3.7%
  • Gold: Eases to $7300
  • Bitcoin: Eases to US$67942
  • 10-year yields: Higher at 4.95%
  • AUD: Firms to 70.10c.
  • Dow down 1000 Nasdaq down 566

MARKET MOVERS

  • YAL +13.3% coal in favour.
  • KAR +10.2% oil leverage.
  • NAN +3.8% FDA ruling.
  • ELS +4.6% drone exposure.
  • AEL +3.1% flow testing results.
  • TER +10.1% kicking again.
  • ERM +16.7% PAN makes a bid.
  • DTR -15.2% reverses Friday’s rise.
  • CXO -13.7% lithium depressed.
  • EQR -13.0% profit taking.
  • LOT -12.7% SPP results.
  • BAP -14.8% continues to fall.
  • AYA -11.2% company presentation.
  • Speculative Stock of the Day: 88E +86.4% corporate presentation.

ECONOMIC AND OTHER NEWS

  • Oil jumps the most since 2020. Mojtaba Khamenei named as the new supreme leader.
  • U.S. ordered diplomats to leave Saudi Arabia as Iran war risks spread across the region.
  • Not just oil jumping, Palm oil surged as much as 10 per cent, soybean oil jumped and wheat neared a two-year peak.
  • Australian ETF investors added $497.2 million to funds last week, maintaining engagement despite geopolitical tensions and heightened market volatility.
  • Chinese consumer price index rose 1.3% in February from a year earlier, beating economists’ forecast for a 0.8% increase. Producer price index slumped 0.9% from a year ago, better than economists’ expectations of a 1.2% fall.
  • Muscat airport limits private jet flights as wealthy leave the Gulf.
  • G7 considering releasing oil from reserves.

And finally….

There is a new movie coming out about mobile homes

I just saw the trailer

Clarence

XXXX

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