Australia Shares Fall Sharply Ahead of Labor Data

2026-09-24 01:13 By Farida Husna 1 min. read

Australian stocks plunged 116 points or 1.3% to 8,649 in early deals on Thursday, reversing modest gains in the previous three sessions as Wall Street’s overnight losses spilled into local markets.

Surging U.S.

bond yields, inflation fears, and renewed Middle East tensions that lifted oil prices above USD US103 pressured sentiment.

Caution also mounted ahead of August labor data later today after July’s surprise uptick in unemployment and a decline in employment.

Meanwhile, RBA Assistant Governor Sarah Hunter warned cash rates may need to rise again if inflation persists, reinforcing expectations from the four major banks that the central bank will hike next week.

All sectors retreated, led by manufacturing, non-energy minerals, and financials.

The big four banks fell 1.7%–1.9%, while steep losses hit PLS Group (-4.9%), Lynas Rare Earths (-4.6%), and Nextdc (-3.5%).

Traders now anticipate a bilateral summit between U.S.

President Donald Trump and China's leader Xi Jinping later today.



News Stream
Australia Shares Fall Sharply Ahead of Labor Data
Australian stocks plunged 116 points or 1.3% to 8,649 in early deals on Thursday, reversing modest gains in the previous three sessions as Wall Street’s overnight losses spilled into local markets. Surging U.S. bond yields, inflation fears, and renewed Middle East tensions that lifted oil prices above USD US103 pressured sentiment. Caution also mounted ahead of August labor data later today after July’s surprise uptick in unemployment and a decline in employment. Meanwhile, RBA Assistant Governor Sarah Hunter warned cash rates may need to rise again if inflation persists, reinforcing expectations from the four major banks that the central bank will hike next week. All sectors retreated, led by manufacturing, non-energy minerals, and financials. The big four banks fell 1.7%–1.9%, while steep losses hit PLS Group (-4.9%), Lynas Rare Earths (-4.6%), and Nextdc (-3.5%). Traders now anticipate a bilateral summit between U.S. President Donald Trump and China's leader Xi Jinping later today.
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