Australia Stock Market This Week: ASX 200’s Worst Week Since March as Oil Shock, Fortescue Selloff Bite
The S&P/ASX 200 ended Friday at 8,786.50, capping a 1.8% drop for the week—its steepest decline since mid-March—as the market struggled with Middle East jitters, a selloff in healthcare, and sliding miners. On the day, the benchmark edged down 6.9 points, or 0.08%. Miners shed 1.1%. Banks, though, eked out a late 0.3% gain. Timing is key here: the selloff landed just as investors juggled two themes—potential diplomacy efforts in the Middle East and the threat that stubbornly high oil prices could keep inflation burning. Higher crude bumps up fuel costs, can bite into company margins, and tends to firm up expectations for where interest rates might head next. The ASX’s RBA Rate Indicator shows how the market prices potential