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ASX plunges as spike in oil prices over Middle East crisis sparks global inflation fears

The Guardian World News March 9, 2026 · 2:14 am Read Original

Pessimistic -34.5

−100 Bearish 0 +100 Bullish

ASX plunges as spike in oil prices over Middle East crisis sparks global inflation fears

Selldown linked to disrupted oil supplies, the single biggest contributor to global inflation, which makes most goods and services more expensiveFollow our Australia news live blog for latest updatesGet our breaking news email, free app or daily news podcastAustralian shares plunged on Monday, wiping about $13obn from the value of the ASX midway through the trading session, after a sharp rise in oil prices caused by the Middle East conflict sparked concerns of a breakout in global inflation.The benchmark S&P/ASX 200 was down 4% in lunchtime trading to dive below the 8,500 point mark, marking the single biggest one-day drop since the announcement of Donald Trump’s “liberation day” tariffs last year. Continue reading...

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Source The Guardian World News

Published Mar 9, 2026 · 2:14 am

Article ID h31axjd

Original URL Open source

Pessimistic -34.5

−100Neutral+100

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