Market Close 14 Jun 22: ASX 200 sinks to 16-month low

The Australian sharemarket slumped by 3.55% on Tuesday, its worst day since May 2020 and enough to drag the ASX 200 to a 16-month low. The catalyst was a hotter than expected update on US inflation last Friday, which has markets bracing for a larger US rate hike this Thursday. Our market also played catch-up due to the long weekend, as the S&P500 slumped by close to 7% over the past two sessions.

 

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