Australian Shares Log Worst Week Since Mid 2022

2026-03-06 06:36 By Joshua Ferrer 1 min. read

The S&P/ASX 200 dropped 1% to close at 8,851 on Friday, hitting a one-month low and ending the week 3.8% lower, its steepest fall since mid-June 2022, as global risk appetite continued to weaken amid the seventh day of the US-Israeli conflict with Iran.

Tensions escalated further after President Trump said he should have a say in choosing Iran’s next leader, while reports of attacks on oil tankers in Gulf waters and Chinese steps to curb fuel exports drove oil prices higher, stoking concerns that rising energy costs could fuel inflation and weigh on global growth.

Locally, miners led losses, down 4.3% on weaker copper prices amid a stronger US dollar and uncertainty over Middle East smelter operations, putting the index on its worst week since September 2022.

Gold miners also fell sharply as bullion retreated, while financial stocks edged lower and down 3.3% for the week, its weakest performance since mid-November 2025.

Conversely, energy stocks extended their rally.



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Australian Shares Log Worst Week Since Mid 2022
The S&P/ASX 200 dropped 1% to close at 8,851 on Friday, hitting a one-month low and ending the week 3.8% lower, its steepest fall since mid-June 2022, as global risk appetite continued to weaken amid the seventh day of the US-Israeli conflict with Iran. Tensions escalated further after President Trump said he should have a say in choosing Iran’s next leader, while reports of attacks on oil tankers in Gulf waters and Chinese steps to curb fuel exports drove oil prices higher, stoking concerns that rising energy costs could fuel inflation and weigh on global growth. Locally, miners led losses, down 4.3% on weaker copper prices amid a stronger US dollar and uncertainty over Middle East smelter operations, putting the index on its worst week since September 2022. Gold miners also fell sharply as bullion retreated, while financial stocks edged lower and down 3.3% for the week, its weakest performance since mid-November 2025. Conversely, energy stocks extended their rally.
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