, closing at a two month low of 6408.1. An inversion of the US yield curve - historically a reliable recession indicator - triggered the selling.Andrew Quilty
It was the largest one-day percentage decline for the local sharemarket since February 6, 2018. From the record high of 6875.5 set on July 30, the main index has now shed 6.8 per cent. A string of weak corporate results also hit sentiment. Woodside Petroleum shares tanked 6.7 per cent as its profit result fell well short of analyst expectations, Telstra closed 1.8 per cent lower after its results, while insurer QBE dropped 1.1 per cent. Shares in vitamins maker Blackmores tumbled 14.6 per cent.
Libs surplus is cooked