At lunch on Thursday, the S&P/ASX 200 Index (ASX: XJO) has followed the lead of US markets and is tumbling lower. The benchmark index is currently down 1.2% to 7,477.2 points.
Here’s what is happening on the ASX 200 today:
Tech shares sold off
It has been a brutal day for the tech sector on Thursday with heavy declines being seen across the board. This follows a tech selloff on Wall Street which led to the Nasdaq index having its worst day in almost a year. Among the worst performers are Afterpay Ltd (ASX: APT) and Altium Limited (ASX: ALU) shares. The former was down as much as 11% at one stage.
Mining giants rise
It has been a much better day for mining giants BHP Group Ltd (ASX: BHP) and Rio Tinto Limited (ASX: RIO). Both miners are pushing notably higher today after the benchmark iron ore price continued its ascent. According to CommSec, the spot iron ore price rose by US$2.45 or 2% to US$125.35 a tonne.
South32 to restart Brazilian aluminium operation
The South32 Ltd (ASX: S32) share price is trading largely flat today despite announcing the restart of its 40%-owned Brazilian aluminium operations after a pause of over six years. The diversified miner also revealed that it will be powering its share of the operations by 100% cost efficient renewable power. This will place the smelter in the second quartile of the global aluminium site cost curve.
Best and worst ASX 200 performers
The best performer on the ASX 200 on Thursday has been the Clinuvel Pharmaceuticals Limited (ASX: CUV) share price with a 2.5% gain on no news. However, the biopharmaceutical company’s shares have fallen by 33% over the last two months, so bargain hunters could be swooping in today. The worst performer has been the Afterpay share price with a decline of almost 10%. This follows another heavy decline by the Block share price overnight.
The post ASX 200 (ASX:XJO) midday update: Afterpay sinks again, BHP and Rio rise appeared first on The Motley Fool Australia.
Wondering where you should invest $1,000 right now?
When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*
Scott just revealed what he believes could be the five best ASX stocks for investors to buy right now. These stocks are trading at near dirt-cheap prices and Scott thinks they could be great buys right now.
*Returns as of August 16th 2021
More reading
- Afterpay (ASX:APT) share price tumbles 11% in massive one-day loss
- Why did the Rio Tinto share price (ASX:RIO) have such a lousy 2021?
- Is the party over for ASX BNPL shares?
- Why the South32 (ASX:S32) share price is pushing higher again today
- ASX 200 tech shares on watch after Nasdaq selloff
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns and has recommended Afterpay Limited and Altium. The Motley Fool Australia owns and has recommended Afterpay Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.
from The Motley Fool Australia https://ift.tt/3HHOgeC
Leave a Reply