Aussie Stocks Set for Biggest Weekly Loss in a Year

2026-03-06 00:17 By Joshua Ferrer 1 min. read

The S&P/ASX 200 slipped 1.2% to below 8,840 in early Friday trade, heading for a one-month low and nearly a 4% weekly loss, its biggest in a year.

The downturn mirrored a broader global risk-off move as the Middle East war escalated into a seventh day, which fueled supply concerns and pushed oil prices higher.

Sentiment was further pressured by renewed uncertainty over global trade policy, after fresh legal challenges emerged against the tariff program introduced by President Trump.

Heavyweight sectors led the losses, including banking, mining, and gold stocks.

The four largest lenders traded in the red, led by NAB, down over 1%.

Mining giants BHP and Rio Tinto fell more than 4% each.

China has expanded restrictions on BHP iron ore purchases amid a prolonged contract dispute, weighing on sales and building stockpiles at ports.

Gold miners Northern Star slid around 5%, while Newmont and Evolution Mining fell 2% and 4%, respectively.

Meanwhile, energy firms and tech stocks outperformed.



News Stream
Stocks in Australia Hit 4-week Low
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2026-03-06
Aussie Stocks Set for Biggest Weekly Loss in a Year
The S&P/ASX 200 slipped 1.2% to below 8,840 in early Friday trade, heading for a one-month low and nearly a 4% weekly loss, its biggest in a year. The downturn mirrored a broader global risk-off move as the Middle East war escalated into a seventh day, which fueled supply concerns and pushed oil prices higher. Sentiment was further pressured by renewed uncertainty over global trade policy, after fresh legal challenges emerged against the tariff program introduced by President Trump. Heavyweight sectors led the losses, including banking, mining, and gold stocks. The four largest lenders traded in the red, led by NAB, down over 1%. Mining giants BHP and Rio Tinto fell more than 4% each. China has expanded restrictions on BHP iron ore purchases amid a prolonged contract dispute, weighing on sales and building stockpiles at ports. Gold miners Northern Star slid around 5%, while Newmont and Evolution Mining fell 2% and 4%, respectively. Meanwhile, energy firms and tech stocks outperformed.
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