FX.co ★ ASX 200 Extends Slide Amid U.S. Strike Concerns, Price Pressures

Australia’s ASX 200 fell 67 points, or 0.8%, to close at 8,661 on Thursday, marking a second consecutive decline and bringing the benchmark near a one-week low. Sentiment weakened after U.S. stock futures retreated, following President Donald Trump’s dismissal of the prospect of a deal with Iran and reports that the U.S. military is preparing possible strikes ahead of the midterm elections.

On the domestic front, October inflation expectations rose to a four-month high, highlighting persistent price pressures stemming from elevated global energy costs, even as the Reserve Bank continues to tighten policy. Losses were broad-based, led by technology, non-energy minerals, industrial services, and logistics stocks.

The four major banks each declined about 1.5%, while BHP Group dropped 2.0% and Rio Tinto fell 2.9%. Fortescue slipped 1.4% amid a standoff with China Mineral Resources Group over long-term iron ore contracts. Other notable underperformers included Lottery Corp. (-3.8%), Xero (-3.0%), and Endeavour Group (-1.7%).