Market Wrap with Scott Phillips – CIO, The Motley Fool
Description
Global markets tanked following the US rate cut decision, but can things be salvaged into 2025?
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ASX200: down 1.70%, 8,168
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GOLD: $2,626 US/oz
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BITCOIN: $162,865 AUD
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Tech stock falls were led by data centre operator Megaport, which dropped more than 10%, with Life360 down 3.8% and Xero dropping 2.6%
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Financials were lower - Commbank down 2.3%, Westpac sinking 2.4% and NAB falling 2.1%.
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Zip’s up-and-down run saw it losing 9% to $2.84.
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BHP, CSL, Wesfarmers, Fortescue, and Goodman Group were large cap stocks all down by more than 1%.
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Transurban managed to rise by 0.1% despite being made to pay $40 million to the operator of Melbourne toll road EastLink over ‘unjust fees’.
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And others escaping the carnage included QBE, Brambles, Coles and APA Group.
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