ASX 200 Down 1.8% for the Week Amid Cautious Sentiment

2026-04-24 06:59 By Farida Husna 1 min. read

The S&P/ASX 200 edged lower on Friday, closing at 8,786 and marking a fourth straight session of losses.

Sentiment was weighed down by weaker U.S.

stock futures, as uncertainty over the reopening of the Strait of Hormuz and stalled U.S.–Iran peace talks dampened risk appetite.

Momentum in Australian stocks remained fragile, with the benchmark index down 1.8% for the week, marking the steepest weekly decline since mid-March.

Renewed inflation pressures, reemerging since H2 of 2025 and already above the Reserve Bank of Australia target, continued to rattle equity markets.

This reinforced views that the central bank could deliver another rate hike at its May meeting, with March inflation data, due next week, likely to be pivotal.

Commercial services, logistics, and consumer durables drove the weakness, with notable decliners including Fortescue (-5.7%), Northern Star Resources (-3.5%), Pro Medicus (-2.3%), and SGH Ltd (-2.2%).

Meanwhile, the four major banks delivered a mixed performance.



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