Weakest week in two years 😲
It was a very downbeat end to the worst week for Aussie equities in more than two years. A wide sweeping selloff saw the local index drop 1.25% to 6932 - finishing down 4.2%. The sectors unanimously closed in the red, with REITs, gold stocks and consumer discretionary leading the losses. Financials saw the most doom and gloom over the week as the big banks dragged the sector 9% lower. Winners were few and far between today, but Xero was the hero after gaining 4%. Healius, James Hardie and Pinnacle clawed up between 1 to 2% each. We wouldn't blame you for feeling glum after such a down week, but stay tuned for the next global market mover... the FOMC's interest rate call on Wednesday. In the meantime, enjoy the long weekend!
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