Fortescue slides with ASX mining stocks ahead of Tuesday open
Fortescue Ltd shares ended down almost 3% on Monday, dragged lower with other Australian miners as concerns about inflation and softer resource stocks put pressure on the S&P/ASX 200. The benchmark index slumped to a seven-week low, losing 1.45% to 8,505.3. Fortescue settled at A$21.95, off its previous A$22.60 close. BHP shares lost 2.8% to end at A$58.77 and Rio Tinto slipped 3.63% to A$179.01, showing the weakness was not just about Fortescue. The sector took a broad hit, with pressure going well beyond a single Fortescue filing or mine update.