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S&P/ASX 200 Dips 1.81% to Reach New One-Month Low as Australia Stocks Decline

Australia stocks concluded lower on Tuesday’s trading session, with losses predominantly observed in the Consumer Discretionary, Metals & Mining, and Utilities sectors, driving shares downwards.

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At the close in Sydney, the S&P/ASX 200 index retreated by 1.81%, marking a new one-month low.

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Among the session’s top performers on the S&P/ASX 200 were BWP Trust (ASX:BWP), which surged by 2.08% or 0.07 points to reach 3.44 at the close. Similarly, IPH Ltd (ASX:IPH) recorded a gain of 1.15% or 0.07 points, closing at 6.15, while Virgin Money PLC (ASX:VUK) saw an increase of 0.98% or 0.04 points, concluding at 4.13.

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Conversely, Star Entertainment Group Ltd (ASX:SGR) emerged as one of the session’s worst performers, plummeting by 13.40% or 0.07 points to trade at 0.42 at the close. Zip Co Ltd (ASX:ZIP) experienced a decline of 10.90% or 0.14 points, finishing at 1.19, while Resolute Mining Ltd (ASX:RSG) fell by 10.71% or 0.05 points, closing at 0.44.

On the Sydney Stock Exchange, declining stocks outnumbered advancing ones by a significant margin, with 918 stocks recording losses, 266 stocks witnessing gains, and 426 remaining unchanged.

Shares in Star Entertainment Group Ltd (ASX:SGR) reached all-time lows, declining by 13.40% to 0.42.

The S&P/ASX 200 VIX, which measures the implied volatility of S&P/ASX 200 options, surged by 17.35% to reach 13.33, marking a new three-month high.

In commodities trading, June delivery gold futures experienced a gain of 0.60% or 14.20, reaching $2,397.20 per troy ounce. Additionally, May delivery crude oil rose by 0.42% or 0.36, hitting $85.77 per barrel, while the June Brent oil contract saw an increase of 0.38% or 0.34, trading at $90.44 per barrel.

AUD/USD remained unchanged at 0.64, while AUD/JPY fell by 0.26% to 99.12.

The US Dollar Index Futures climbed by 0.20% to reach 106.21.

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