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1.Market Observations, 8.Was Sticky

15 Nov 2018 (AFR) – Energy stocks skid, taking ASX along for the ride, on sliding oil prices

(15 November 2018, AFR, p27, by Sarah Turner)

‘Oil prices sliding to an eight-month low took Australian energy companies and the broader market with them as investors rushed to sell out of the energy sector.  After a torrid session the previous day, Australian investors looked set to hit pause on the selling. The calm only lasted until lunchtime with the S&P/ASX 200 index ending the day down 1.7 per cent, or 101 points, at 5732. The ASX dropped 1.8 per cent on Tuesday and the two-day slump wiped $60 billion off the market.’

Read more at AFR.com (might need AFR login access, or try: AFR.com/trial)

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