Australian Market Braces for Drop, Global Markets Fall

0:00Welcome to Adelaide News Today, two minutes of news that matter to Adelaide. Good morning, folks. The Australian share market looks ready for a sharp drop at the open today. ASSX 200 futures are pointing down 1.6% to 8,553 points. This follows a rough night on Wall Street, where major indexes close lower. Wall Street saw the Dow Jones fall 1.6%, while the S&P 500 and NASDAQ both dropped 1.4%. European markets also dipped, with the stock 600 down 0.8% in Germany's DAX off 1%. Traders are watching closely as these declines ripple across global markets. The Australian dollar weakened 1.1% to 70.2% US cents, reflecting broader risk of sentiment among investors. Meanwhile, oil prices keep climbing higher amid tensions from the war in the Middle East. Brent Crew jumped 7.5% to $111.12 per barrel, adding pressure on energy costs worldwide.

1:03Other commodities show mixed moves too. Spot gold fell 3.9% to $4,811 per ounce, iron ore ease 1.3% to $100, $7.35 per ton, and Bitcoin dropped 4.8% to $70,972. Stay tuned for more updates as the day unfolds. D&N is brought to you by our sponsor link in the description. Head in, sound on, lights out. That is the routine, S-O-L-I, solelypillow.com. Made in AI.